Analytics and AI solutions company, Course5 Intelligence, has secured $53 million in its second funding round. The funding was led by the Nuvama Crossover series of funds managed by Nuvama Asset Management Limited, with participation from Carnelian Asset Advisors and affiliates.
Driving Inorganic Growth Plans
Course5 Intelligence intends to utilize the funds to fuel its inorganic growth plans. The company aims to strengthen its position by adding new intellectual property (IP), capabilities, talent, and key client relationships through collaborations. It also plans to focus on innovation in specific areas of applied AI, including computer perception, deep learning, natural language, and generative AI through its AI Labs.
M&A Activities on the Horizon
The startup has allocated approximately $80 million from its cash reserves and cash accruals for mergers and acquisitions (M&A). Course5 Intelligence is currently in talks with five companies and aims to complete two acquisitions within the next 12 months. It seeks synergistic assets in the US, the UK, and India, with revenues ranging from $10 million to $20 million, as well as smaller deep-tech AI startups.
Embracing the Data-Driven Intelligence Wave
The increasing complexity, type, and usage of data worldwide, along with advancements in technologies like AI, have accelerated the adoption of data-driven intelligence by enterprises. According to Pranav Parikh, Managing Partner at Nuvama Private Equity, Course5 Intelligence is well-positioned to benefit from this trend due to its marquee client base, industry domain expertise, and effective delivery model.
Course5 Intelligence’s Approach and Expertise
Headquartered in Mumbai, Course5 Intelligence is a digital analytics company that empowers organizations to drive digital transformation through AI, advanced analytics, and insights. The company combines a multi-disciplinary approach to integrate structured and unstructured data sources, enabling businesses to make informed decisions. Its client base spans various sectors, including technology, media, telecom, pharma and life sciences, CPG, and retail.
Acquisition of Incivus
In addition to the funding news, Course5 Intelligence has acquired Incivus, an AI-based ad creation and optimization technology startup. Incivus provides a comprehensive evaluation of creative variables in advertisements, leveraging computer vision, computer audition, generational AI, and natural language processing technologies.
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