Course5 Intelligence teams up with 360 One Asset’s tech fund to take over the AI universe.
Analytics and artificial intelligence (AI) solutions company Course5 Intelligence has recently announced its plans to raise a funding round of USD 55 million. The initial closing of the funding round was achieved through the participation of 360 ONE Asset Management Limited’s Tech Fund, which specializes in investing in promising technology companies. Leading the round, 360 ONE Asset invested US$28 million in Course5. The company is currently in the process of finalizing the remaining funding with other investors.
The funds will be used to expand Course5’s presence in its current industries and explore new sectors relevant to its business. Additionally, the company plans to utilize investor funds to support organic growth, pursue strategic acquisitions and invest in advanced AI technology areas like deep learning, computer vision, natural language processing and generative AI.
Course5 Intelligence’s Chairman and CEO, Ashwin Mittal, put forward that the company has consistently prioritized capital efficiency and believed that now is the opportune moment to secure external funding, considering their trajectory and favorable industry trends. The company has observed strong demand for their analytics and AI solutions, attracting both existing and new clients. Furthermore, its IP-based products and solutions have been receiving notable recognition from analysts, affirming the value the company delivers to their 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. This funding will enable us to continue to invest in augmenting our value proposition for our clients,” said Mittal.
Course5 Intelligence has achieved consistent financial performance driven by its analytics and insights solutions developed by its AI Labs as well as the utilization of global open research in AI technology. The company’s enterprise analytics platforms are integrated with Open AI’s GPT models, enabling businesses to quickly leverage the latest technology for impactful data-driven outcomes.
360 ONE Asset’s Fund Manager and Senior EVP, Chetan Naik, asserted that data analytics is poised for significant growth in the next decade. He noted that companies are increasingly utilizing AI and advanced analytics to accelerate their digital transformation efforts. Naik expressed excitement about the partnership with Course5, recognizing Course5 as a leading player in data analytics and insights, with strong IP-led solutions and extensive domain knowledge across various sectors.
Course5 Intelligence is currently engaged in discussions with different merger and acquisition (M&A) opportunities that would bring valuable expertise or intellectual property (IP) to its current range of services. With its projected revenue set to surpass US$100 million in the upcoming financial year, the company is actively preparing for an initial public offering (IPO) within the next 18 months.
Also read:
- Ex-Hindustan Coca-Cola CEO Leads Funding Round for Health Care Startup Varco®
- What Do You Need to Get Seed and Series A Funding?
Header image courtesy of Freepik
