$53m More for Course5's M&A War Chest

In India, analytics and insights company Course5 Intelligence has raised a further $53m in funding, which will be added to a mergers and acquisitions (M&A) 'war chest' of around $80m.

Course5 Intelligence was formed in 2018 from the merger of the Cross-Tab Group companies Blueocean Market Intelligence and Cross-Tab. The firm's AI-driven products and solutions are supported by industry-specific experience and technologies, helping organizations to solve complex issues relating to their customers, markets, and supply chains.

New funding has been led by Nuvama Crossover Series, with participation from Carnelian Asset Advisors and affiliates. This round follows last month's $28m investment led by 360 ONE Asset Management. Course5 Intelligence will use these funds to acquire businesses with revenues in the range of $10m to $20m in the US, the UK and India. The firm says it is currently in talks with five companies and plans to complete two acquisitions during the next twelve months. It will also use the 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.

Chairman and CEO Ashwin Mittal (pictured) comments: 'We want to ensure we maintain our leadership position amongst AI and analytics solution providers by adding strategically to our portfolio to maximize our value proposition to global corporates. We are pleased to have on board Nuvama as an investor, someone who has a track record of partnering with sector leaders and is aligned to our vision'.

Web site: www.course5i.com .