Highlight:
- It is the second company to make the billionaire club by 2022
- TPG’s Puneet Bhatia and Vivek Mohan are on the Board of Directors of Fractal Company.
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Fractal has so far raised Rs 685 million. The deal is a combination of the acquisition of primary and secondary equity funds from Apox Partners’ funds. TPG and Apox are the minority shareholders of the company.
In addition, TPG’s Puneet Bhatia and Vivek Mohan are on the board of directors of Fractal Company. Srikanth Velamakanni, Fractal’s Co-Founder and Group CEO, said:
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He said the company spends 15% to 20% of its revenue on R&D every year. He said the company had made five acquisitions last year.
Fractal’s products include Cure AI, which helps radiologists diagnose symptoms in hospitals and labs, Crooks Intelligence, which assists senior staff and CEOs in making strategic decisions, and Dermin AI, Eugene AI, and Samya AI, which assist in investment decision making.
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Velamakanni said the company expects to end this financial year with a revenue of Rs 1,400 crore. Last year it was Rs 800 crore. He told the Economic Times that he expects a 40 percent increase next year. Kovid has helped companies all over the world accelerate their digital transformation. He added that artificial intelligence will be the main industry in the coming years. “I have never seen such a strong demand environment,” he said.
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