Bengaluru: Private Equity Company TPG is investing $ 360 million in the fractal company AI and Bengaluru analytic.
The agreement appreciated the company with more than $ 1 billion, made the second unicorn fractal 2022.
The first was Mamaearth.
Fractal has collected $ 685 million in funding to date.
The latest funding is a combination of primary and secondary stock purchases from the funds suggested by Anx.
Both TPG and Anx will be a minority shareholder in the company.
Puneet TPG Bhatia and Vivek Mohan will join the Fractal Board of Directors.
“Some of the main investments will be deployed to R & D for the product and in pursuing M & A agreement,” Srikanth Velikaluti, Co-Founder and CEO of the Fractal Group said.
He said the company spread 15-20 percent of income to R & D every year.
Fractals are expected to close FY22 with 1,400 crore Rs in revenue, from RS 800 Crore last year.