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.
Sooner or later, the concept of digitization will completely take over all repetitive tasks. Today, with the help of big data, advanced technologies like automation, artificial intelligence, IoT, and machine learning are leveraging unimaginable amounts and types of information to work from. It is streamlining tedious, repetitive, and difficult tasks, which tend to slow down production and also increases the cost of operation. Owing to the evolution of technology, artificial intelligence startups are mushrooming like never before. The companies are driving the world into a new phase of digitization with a mixture of disruptive statistical methods, computational intelligence, soft computing, and traditional symbolic AI. Artificial intelligence is the combination of two amazing concepts namely science and engineering. With the infusion of disruptive trends and human intelligence, intelligent machines and intelligent computing programs are emerging. Slowly, the flare of innovations moved away from IT and entered into diverse industries including healthcare, education, finance, marketing, business, telecommunication, etc. Organizations realized that by digitizing repetitive tasks, an enterprise can cut the cost of paperwork and labor which further eliminates human error, thus boosting efficiency. Automating processes involve employing artificial intelligence solutions that can support digitization and deliver data-driven insights. Artificial intelligence startups emerge as a ready-made solution provider that supports every company's individual needs. AI startups in 2021 use big data to sophisticated AI models and leverage new solutions that could better serve customers. Analytics Insight has listed the top 100 artificial intelligence startups that are driving the next-generation development in technology. It democratizes the way investments are done by bringing sophisticated elite trading technology to laymen. Accrad is a health tech company that assists radiologists to reduce their workload with the precision of artificial intelligence. Radiologists work under different circumstances and deadlines and might find diagnosis through x-rays a bit difficult. Therefore, Accrad has come up with a futuristic solution to help with accurate and fast image diagnosis. The company has made x-ray processing more convincing and simpler. Its signature product CheXRad, a deep learning algorithm that identifies locations in the chest radiograph has the capability to predict 15 different diseases including Covid-19. Affable.ai is a data-driven influencer marketing platform where customers can find relevant and authentic influencers and manage marketing operations. By using cutting-edge computer vision algorithms on social media posts, the company delivers actionable insights about micro-influencers and their audience. Similar to how Google has sophisticated its search and promote relative ads to users, Affable.ai has also built one-click marketing at a shorter scale.
Automation Anywhere, a global leader in Robotic Process Automation (RPA), today announced the acqui-hire of product engineering start-up Cathyos Labs to support the company's expansion and product innovation. Cathyos Labs specializes in product development, automation, RPA and predictive analytics. Through the acqui-hire, Automation Anywhere will strengthen its engineering team to increase product development, support and delivery for customers in India and across the region. Cathyos Labs is the first talent led acquisition by Automation Anywhere. Throughout India, acqui-hires are becoming common as organizations purchase a company in order to acquire or gain access to its employees, but not necessarily the company's products and services.