SaaS unicorn Fractal has announced a $20 million (Rs 172 crore) investment in its AI-powered supply chain management platform, Asper.AI.
The funding aims to accelerate product development, expand Asper.AI’s enterprise customer base globally, and drive its next growth phase, Fractal stated.
Asper.AI co-founder and CEO Mohit Agarwal emphasized that the capital will help the platform attract experienced talent and enhance its product offerings.
Launched under Fractal’s umbrella in 2022 by Mohit Agarwal and Anuj Kaushik, Asper.AI utilizes AI to automate decision-making for retail businesses, covering areas such as demand forecasting, revenue growth management, inventory planning, and sales execution.
Fractal co-founder and CEO Pranay Agrawal highlighted Asper.AI’s rapid growth and innovation over the past three years, stating that the investment will unlock new opportunities for enterprise customers and fuel its long-term vision.
Meanwhile, Fractal Analytics, founded in 2000 by Srikanth Velamakanni, Pranay Agrawal, and Ashwath Bhat, provides AI and advanced analytics solutions to Fortune 500 companies. Backed by TPG Capital and Khazanah Nasional, Fractal has raised $685 million to date.
This investment comes as Fractal looks to strengthen its financial position after recording losses in FY 2023-24. The company has also been investing in its product arm amid plans to list on the Indian stock market.
In September 2024, reports suggested that Fractal was preparing to file its Draft Red Herring Prospectus (DRHP) with SEBI for a $500 million IPO, targeting a $3.5 billion valuation. However, no further updates have been shared regarding its IPO timeline.
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