AI startup Fractal becomes unicorn with $360 million investment from TPG – TechCrunch

Fractal has raised $360 million from TPG in a new financing round and entered the unicorn club as the Mumbai and San Francisco-headquartered AI startup, which counts Google and Wells Fargo among its customers, scales its offerings and begins preparation for an IPO. The new financing round valued the 21-year-old startup "at well north of $1 billion," said Srikanth Velamakanni, co-founder and group chief executive at Fractal, in an interview with TechCrunch. TPG invested in the startup through its TPG Capital Asia, its Asia-focused private equity platform. The new round, which brings the startup's all-time raise to about $685 million, involves some secondary share purchase as well. Fractal Analytics provides artificial intelligence and analytics solutions to scores of Fortune 100 firms.