Analytics & AI solutions company, Course5 Intelligence, has announced that they have successfully completed their round of funding of $53 million with second close led by Nuvama Crossover Series of funds, managed by Nuvama Asset Management Limited. The second close also saw participation by Carnelian
Asset Advisors Pvt Ltd and affiliates. This funding follows the first close done with 360 ONE Asset Management Limited (formerly known as IIFL Asset Management Limited) in May 2023. This funding will be augmented by the company’s own cash reserves and cash accruals to provide for an M&A war chest in the range of USD 80 million.
Ashwin Mittal, Chairman and CEO of Course5 Intelligence, said, “The data and AI revolution is finally here and the scope and scale of AI deployments across global enterprises are going to rapidly increase in the coming years. Recent advances in Generative AI, natural language and computer perception have completely removed the boundaries of what is possible. We want to ensure we maintain our leadership position amongst AI & Analytics solution providers by adding strategically to our portfolio to maximize our value proposition to global corporates.”
The penetration of advanced analytics & AI in enterprises is at a very nascent stage globally and recent advances in technological innovations may be the tipping point for wide-spread, democratic adoption across industries and one that will likely see consistent growth over the next decade. Partnering with Course5 to capitalize on this opportunity is a natural fit for Nuvama Private Equity’s Crossover fund strategy, that has over time successfully identified and invested in leaders across sectors with structural growth, and in companies with established business models and seasoned management teams.
ICICI Securities and JM Financial acted as the exclusive financial advisors to the company. Course5 is said to be currently in talks with five companies and plans to complete two acquisitions, over a period of 12 months. In addition to mergers & acquisitions, Course5 said that it plans to use the investor funds for further innovation in specific areas of applied AI such as deep learning, computer perception, natural language, and Generative AI via Course5’s AI Labs.
Asset Advisors Pvt Ltd and affiliates. This funding follows the first close done with 360 ONE Asset Management Limited (formerly known as IIFL Asset Management Limited) in May 2023. This funding will be augmented by the company’s own cash reserves and cash accruals to provide for an M&A war chest in the range of USD 80 million.
Ashwin Mittal, Chairman and CEO of Course5 Intelligence, said, “The data and AI revolution is finally here and the scope and scale of AI deployments across global enterprises are going to rapidly increase in the coming years. Recent advances in Generative AI, natural language and computer perception have completely removed the boundaries of what is possible. We want to ensure we maintain our leadership position amongst AI & Analytics solution providers by adding strategically to our portfolio to maximize our value proposition to global corporates.”
The penetration of advanced analytics & AI in enterprises is at a very nascent stage globally and recent advances in technological innovations may be the tipping point for wide-spread, democratic adoption across industries and one that will likely see consistent growth over the next decade. Partnering with Course5 to capitalize on this opportunity is a natural fit for Nuvama Private Equity’s Crossover fund strategy, that has over time successfully identified and invested in leaders across sectors with structural growth, and in companies with established business models and seasoned management teams.
ICICI Securities and JM Financial acted as the exclusive financial advisors to the company. Course5 is said to be currently in talks with five companies and plans to complete two acquisitions, over a period of 12 months. In addition to mergers & acquisitions, Course5 said that it plans to use the investor funds for further innovation in specific areas of applied AI such as deep learning, computer perception, natural language, and Generative AI via Course5’s AI Labs.
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