India-based analytics and artificial intelligence (AI) solutions company Course5 Intelligence has on Thursday announced today that it is raising a round of funding of $55 million.

The company said in a statement that it has taken a first close with 360 ONE Asset Management Limited’s (formerly known as IIFL Asset Management Limited) Tech Fund which focuses on growth-oriented technology companies.

360 ONE Asset has led the round by investing $28 million in Course5.

The company will be closing the balance with other premier investors shortly.

Course5 plans to use investor funds to supplement its strong organic growth with inorganic growth as well as synergistic acquisitions, and also ramp up its investments in innovation and advanced AI technology in areas such as deep learning, computer vision, natural language and generative AI.

The funding will also be targeted at expanding Course5’s footprint in the current industries it serves, while also entering new sectors that are relevant to its business.

According to the statement, the company is in talks with several merger and acquisition (M&A) prospects that would add strategic capabilities or IP to complement its existing bouquet of solutions.

Course5 Intelligence said it is on track to cross $100 million revenue in the next fiscal and plans to launch its IPO in the next 18 months.

It is noted that Course5 has been experiencing rapid growth and has delivered consistent financial performance.

“Course5 has been organically built on its own cash flows to date. We have always believed in being capital efficient and think that this is the right time to raise external capital given our trajectory and the tailwinds in our industry,” said Ashwin Mittal, Chairman and Chief Executive Officer of Course5 Intelligence.

According to him, the firm has been experiencing strong demand for its analytics and AI solutions with current and new clients.

“Analyst recognitions for our IP-based products and solutions have also been pouring in and testify to the kind of value we are creating for our clients,

“Course5’s growth and client wins are largely due to our focus on building a world-class talent pool, driving innovation through our AI Labs, and creating business impact through the work we do,” he said.

He also said this funding will enable the firm to continue to invest in augmenting its value proposition for its clients.

“We are thrilled to have found a strong partner in 360 ONE Asset. They have a strong understanding of the technology landscape and have made many successful bets,” he added.

Course5 is a firm focuses on helping organizations drive digital transformation using AI, advanced analytics, and insights.

Its AI-driven products and solutions and IP-led solutions are supported by industry-specific domain experience and the latest technologies and aim at enabling organizations to solve complex issues relating to their customers, markets, and supply chain at speed and scale.

Course5 combines a multi-disciplinary approach to data integration across structured and unstructured data sources to help businesses grow through informed decision-making.

Its analytics and insights solutions are backed by continuous innovation in Course5’s AI Labs and also leverage global open research in AI technology.

The company’s enterprise analytics platforms are already integrated with Open AI’s GPT models for Generative AI and offer enterprises the capability to rapidly leverage the latest technology innovations to derive business impact from data.

As Course5 continues to enhance its analytics and insights offerings with AI capabilities across machine learning, computer vision, natural language and generative AI, growing investor confidence in the company indicates that this is the way forward in the organizational growth and customer service excellence journey.

“Data Analytics is expected to see strong secular growth over the next decade with companies leveraging AI and Advanced Analytics to accelerate digital transformation,” said Chetan Naik, Fund Manager and Senior Executive Vice President (EVP) at 360 ONE Asset.

According to him, Course5 has emerged as a leading data analytics and insights player with strong IP-led solutions and deep domain knowledge across technology, media and telecom, life sciences, consumer packaged goods and retail.

“Course5 is amongst the few scaled, profitable, and highly capital efficient pure-play Data Analytics players out of India,” he added.

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