Fractal Analytics plans $500 million IPO filing
Fractal Analytics is gearing up for a $500 million IPO on the Mumbai Stock Exchange, hoping to land a $3.5 billion valuation as soon as the first quarter of 2025.
The offering will mix new shares with some existing investors—Apax Funds and TPG—selling part of their stake.
Fractal builds AI-powered data solutions
Started by five IIM Ahmedabad grads back in 2000, Fractal builds AI-powered data solutions for big names like Google, Unilever, and Kraft Heinz.
With 4,500 employees across 17 offices worldwide, they put about 10-12% of their revenue into R&D to keep innovating.
Revenue grew over 10% last year to $265 million
Fractal recently pitched a ₹150 crore government project to develop an advanced medical AI model.
While revenue grew over 10% last year to $265 million, the company still posted a net loss in FY24.
So far, it has raised more than $600 million from global investors.