Fractal Analytics has two agent AI projects developed. This is already beginning to generate revenue, according to the company’s co-founder Srikanth Velamakanni.
“We aim to deploy agent AI systems to promote productivity in the enterprise, improve decision-making accuracy (and effectiveness) and improve customer experience,” Velamaganni said in an interview with Mint. Ta.
Agent AI systems are emerging technologies within artificial intelligence that combine the capabilities of large-scale language models, machine learning and natural language processing to perform tasks independently and with minimal human supervision.
In 2024, enterprise applications with agent systems embedded in only 1% of companies were adopted by businesses in 2024, but the number could increase to 33% by 2028, according to management consulting firm Gartner. It has sex. The fractal shift towards agent AI systems indicates a change in the company’s revenue generation strategy. “All revenue from fractals is from building AI systems to power decisions. Many of these are expected to become agents in the near future,” Velamakanni said.
Provides insights
Fractal’s deployed agent AI project is called “Cogentiq,” an agent AI platform that accesses corporate data to provide insights to help make and execute decisions. “We’re creating a market for agents that work with each other, or we can use to solve problems we do for our clients,” says Velamakanni.
The company expects that licensing the CogentiQ platform will contribute 20% of Fractal’s future revenue. In fiscal 2013, it generated $5 million in revenue for the company.
In 2024, Fractal spent roughly 7% of its revenue on R&D, focusing on generator AI, quantum algorithms and computational neuroscience.
Another agent AI system developed by IPO bound companies is called “Project Pioneer,” an agent AI system that enables software development and data science tasks with minimal human intervention. “When you define the scope of a project, it does everything else. The system breaks it down into multiple roles, each role doing its job, adding, “The results look very promising.” .
Project Pioneer is not available yet, but Fractal is expected to be released in the “next weeks.”
Financial Performance in 2024
For last fiscal year, consolidated revenues for fractals were £2,196 crores, an increase of 10.6% from the previous year £1,985 crores for 2011. AI companies’ income before interest, tax, depreciation and amortization £73.4 From the core of FY24, negative £188.4 Crawl for 2013.
However, the company reported a net loss £Net profit of 54.7 crore in 2024 £According to the finances mentioned in the company’s annual report, in 2014, 2013, it was 19.4 billion rupees. Earnings for fiscal year 2013 were the result of the company waived a 36.2% stake in Qure.ai at the value of the company. £541 crores.
Fractal recently raised $150 million in its pre-IPO funding round in January, Bloomberg reported, citing people familiar with the issue. The latest funding slashed the company’s valuation to $2.4 billion, according to the report.
Fractal had previously raised $360 million in 2022. US-based private equity company TPG led the investment, bumping into unicorn territory and becoming India’s first AI company to reach such a valuation.
Last year, Bloomberg reported that Fractal plans to raise $500 million through the IPO at a $3.5 billion valuation. The company is expected to be listed in the Blues later this year.
