Khazanah Nasional Berhad, the strategic investment fund of the Malaysian Government, will invest up to US$100 million in US-based Fractal Analytics.
Fractal Analytics provides advanced analytics, deep learning and visual storytelling, working with Fortune 500 companies around the world. The company was named one of the top five ‘Cool Vendors in Analytics’ by Gartner.
“We believe that the availability of large amounts of real-time information and the ability to analyse it at scale, will transform how the world makes decisions,” said Chinta Bhagat, executive director, Khazanah. “Fractal is one of the companies leading this change and with our partnership, it can dramatically accelerate its programmatic investments and acquisitions.”
Srikanth Velamakanni, co-founder and CEO, Fractal Analytics, said that the investment will help the company invest further in its AI and deep learning based software stack.
“This is an exciting phase of our growth. Our success has been on account of the trust and partnership we have enjoyed from large global corporations,” said Pranay Agrawal, co-founder and chief commercial officer, Fractal Analytics. “The unmet need for AI and sophisticated analytics in these organizations will propel our future growth. We are excited to partner with Khazanah on this journey.”
Malaysia launched a regional data analytics exchange platform earlier this year, part of its bid to become the ASEAN big data hub by 2020.