Fractal Invests $20M in Asper.AI to Drive Global Expansion and Innovation

Fractal has invested $20 million in Asper.AI towards reinforcing the supply chain management solutions, augmenting global client reach, and driving growth for the company.

Fractal, a SaaS unicorn, has declared a strategic investment amounting to $20 million (INR 172 crore) into its in-house AI-grunt supply chain management platform, Asper.AI. This will boost Asper.AI's product development, expand its mile-wide global enterprise customer base, and unleash its next growth phase.

Founded as a subsidiary of Fractal in 2022, Asper.AI employs Artificial Intelligence in the field of retail businesses for better decision-making in terms of demand forecast, inventory planning, growth in revenue management, and sales execution. Asper.AI will use this investment for recruiting experienced talent and expand product offerings.

Pranay Agrawal, co-founder and chief executive officer of Fractal, praised Asper.AI's accelerated growth and innovative ideas and stated that the phased investment will create new avenues for enterprise customers. Asper.AI's CEO, Mohit Agarwal added that the funding would also help them enhance their autonomous AI platform as well as support their growing requirement to satisfy market demand.

Fractal was founded in 2000 by Srikanth Velamakanni, Pranay Agrawal, and Ashwath Bhat, and provides AI and advanced analytics solutions to Fortune 500 companies. The SaaS startup has raised $685 million and it receives help from investors such as TPG Capital and Khazanah Nasional.

The investment will help Fractal to improve its financials after reporting a net loss of INR 54.7 Cr in FY24. The company has been considering an IPO, with speculation of a valuation of $3.5 billion.