Fractal Analytics

Fractal is a multinational artificial intelligence company that provides services in consumer packaged goods, insurance, healthcare, life sciences, retail and technology, and the financial sector. Headquartered in New York, it has a presence in the United States[1], United Kingdom, and India along with fifteen other locations.[2]

Fractal
Private
IndustryAnalytics
Founded2000
FoundersSrikanth Velamakanni and Pranay Agrawal
HeadquartersNew York City
Area served
Global
ServicesData Analytics
Number of employees
1,200+
Websitefractal.ai

History

Leadership

Fractal was founded in 2000 by Srikanth Velamakanni, Pranay Agrawal[3], Nirmal Palaparthi, Pradeep Suryanarayan and Ramakrishna Reddy[4].

In 2016, Fractal appointed Pranay Agrawal as the CEO to replace co-founder Srikanth Velamakanni, the new Group Chief Executive and Executive Vice-Chairman.[5]

Velamakanni is a graduate in electrical engineering from IIT Delhi and has an MBA from IIM Ahmedabad.[6]

Funding History

Early investors in Fractal have included Malaysian sovereign wealth fund Khazanah Nasional Berhad, TA Associates and Mirc Electronics Ltd's Gulu Mirchandani who have respectively invested USD $100M (in 2016), USD $25M (in 2013) and USD $600,000 (in 2001). [2][4][7][8]

In January 2019, Fractal received a USD $200M funding from Apax Partners, a leading global private equity advisory firm.[9][10] Following the investment, the company was valued at $500 million.[11]

Growth

In 2005, Fractal Analytics established its base in the United States.

In January 2015, Fractal opened its office in Bangalore, India.

In 2015, Fractal acquired Imagna Analytics[12] and Mobius Innovations.[13][14]

Fractal has expanded its operations including the creation of two new subsidiaries: Qure.ai[15] and Cuddle.ai.[16]

Qure.ai has been incubated by Fractal with between US$25 million to US$30 million since its launch. Qure.ai operates out of Mumbai, India and is a healthcare AI startup focused on radiology and using deep learning and AI to quickly analyze diagnostic medical imaging such as x-rays and CT scans. [17]

Qure.ai raised US$16 million in funding in February 2020 in a funding round led by Sequoia India.[18]

Acquisitions & Partnerships

In August 2016, they partnered with KNIME, an open source data analytics platform.[19] In June 2017, they acquired Chicago-based strategy & analytics firm, 4i Inc.[20]

In March 2018, Fractal acquired behavioral architecture company Final Mile to combine data science with behavioral science to improve decision making.[21][22]

In January 2020, Fractal was named Certified Retail Competency Partner by Amazon Web Services (AWS).[23]

In February 2020, Fractal announced a technology partnership with ideaForge to provide AI-based drone solutions. [24][25]

Awards & Recognition's

In 2014, Fractal Analytics was listed as one of the Fast 50 Asian American Businesses by the US Pan Asian American Chamber of Commerce Education Foundation (USPAACC) for the second consecutive year.[3]

In 2017, Qure.ai was one of the ten 2017 Netexplo award winners for developing an artificial intelligence technology that automates diagnosis and reporting of CT Scans, MRIs and X-Rays.[26]

In 2017, Fractal Analytics won the Best Artificial Intelligence solution award in the Credit Scoring category at Artificial Intelligence Worldwide Software Vendor Selection Event organized by AGOS in collaboration with Nuvolab.[27]

In January 2020, Bhavesh Bhatt, Data Scientist at Fractal Analytics, featured among the 40 leading data scientists in India under the age of 40 recognized by Analytics India Magazine.[28]

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References
  1. Sainul k Abudheen (12 January 2015). "Fractal Analytics buys mobile-based context-aware Big Data startup Mobius Innovations". VCCircle. Retrieved 5 March 2017.
  2. Agrawal, Shrija (January 4, 2019). "Fractal Analytics in talks to raise $200 million from Apax". Livemint. Retrieved February 11, 2020.
  3. "Fractal Analytics Wins Fast 50 Asian American Business Award for Second Consecutive Year". marketwatch.com. July 28, 2014. Retrieved February 18, 2020.
  4. Bhat, Shravan (November 5, 2013). "Fractal Analytics: India's Second-Largest Analytics Firm". Forbes India. Retrieved February 22, 2017. After a painful board-level split in 2007, Fractal Analytics turned things around to become India’s second-largest analytics company and growing
  5. "Fractal Analytics appoints co-founder Pranay Agrawal as new CEO". VCCircle. November 2, 2016. Retrieved February 22, 2017.
  6. Srivastava, Smriti (July 27, 2019). "TOP 10 BIG DATA CEOS IN INDIA". Anylytics Insight. Retrieved February 12, 2020.
  7. "Fractal Analytics raises $100 mn from Malaysia's Khazanah". VCcircle. May 11, 2016. Retrieved February 12, 2020.
  8. Raghavan, Ranjani (January 16, 2019). "Apax Partners to acquire $200 mn stake in Fractal Analytics". VCcircle. Retrieved February 12, 2020.
  9. "Funds Advised by Apax Partners Invest USD 200 Million in Fractal Analytics". Business Standard. January 16, 2019. Retrieved February 12, 2020.
  10. Joshi, Malvika (January 17, 2019). "Apax Funds invests $200 million in Fractal Analytics". Livemint. Retrieved February 12, 2020.
  11. Browne, Ryan (2019-01-16). "Private equity giant Apax buys $200 million stake in Indian A.I. firm Fractal, valuing it at $500 million". CNBC. Retrieved 2020-04-03.
  12. "Fractal Analytics Acquires AI Startup to Expand Customer Genomics". Boston Business Journal. October 29, 2015. Retrieved February 22, 2017.
  13. "Fractal Analytics buys Mobius Innovations". The Hindu. January 13, 2015. Retrieved February 22, 2017.
  14. Ambre, Ashna (12 January 2015). "Fractal Analytics acquires Singapore-based Mobius Innovations". Livemint. Retrieved February 22, 2017.
  15. "Qure.ai Wins Nvidia's Social Innovation Award". The Telegraph (Calcutta). December 21, 2016. Retrieved February 22, 2017.
  16. "Cuddle.ai closes the gap between analytics in the personal and enterprise world". SD Times. 2 November 2016. Retrieved February 22, 2017.
  17. Marandi, Rosemary (October 15, 2019). "Indian AI startup in talks to raise $20m to fight tuberculosis". Nikkei Asian Review. Retrieved February 13, 2020.
  18. Wiggers, Kyle (February 26, 2020). "Qure.ai raises $16 million for AI that spots abnormalities in chest and head scans". VentureBeat. Retrieved March 3, 2020.
  19. "Fractal Analytics Partners With KNIME to Accelerate Institutionalization of Analytics for its Fortune 500 Clients". Yahoo finance. August 9, 2016. Retrieved February 22, 2017.
  20. http://www.prnewswire.com/news-releases/fractal-analytics-acquires-chicago-based-strategy--analytics-firm-4i-inc-625650084.html
  21. "Data Analytics Company Fractal Analytics Acquires Behavioural Architecture Firm Final Mile". Inc42 Media. 2018-03-15. Retrieved 2018-06-08.
  22. "FRACTAL ANALYTICS ACQUIRES FINAL MILE; BRINGS TOGETHER AI, BEHAVIOURAL SCIENCES". analyticsindiamag.com. Retrieved 2018-06-08.
  23. "Fractal Named Certified Retail Competency Partner by Amazon Web Services (AWS)". Market Watch.
  24. "Fractal and ideaForge Announce Global Technology Partnership to Launch AI-powered Drones". February 4, 2020. Retrieved February 12, 2020.
  25. "Fractal and ideaForge Announce Global Technology Partnership to Launch AI-powered Drones". February 4, 2020. Retrieved February 12, 2020.
  26. "Qure.ai Wins the Netexplo Award for Innovative Healthcare AI". prnewswire.com. May 2, 2017. Retrieved February 18, 2020.
  27. SR (September 28, 2017). "Agos: ready to work on AI". aziendabanca.it (in Italian). Retrieved February 18, 2020.
  28. Gupta, Bhasker (February 4, 2020). "40 UNDER 40 DATA SCIENTISTS IN INDIA 2020: WHO ARE THEY?". analyticsindiamag.com. Retrieved February 18, 2020.
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