Course5 raises $28 mn to boost AI biz, plans to raise $55 mn in this round (LEAD)
New Delhi, May 18 Analytics and AI solutions company Course5 Intelligence on Thursday said it has raised $28 million for targeted acquisitions and ramp up its investments in deep learning, computer vision, natural language and generative AI.
360 ONE Asset Management Ltd (formerly known as IIFL Asset Management Ltd) led the round by investing $28 million in Course5. The company plans to raise a total of $55 million in this funding round.
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.
“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,” said Ashwin Mittal, Chairman and CEO of Course5 Intelligence.
“This funding will enable us to continue to invest in augmenting our value proposition for our clients,” he added.
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.
“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,” said Chetan Naik, Fund Manager and Senior EVP at 360 ONE Asset.
360 ONE Asset manages a total assets under management (AUM) of more than Rs 58,000 crore across all its businesses.