PE Fund Investments
Analytics co Course5 raises $25-M more led by Nuvama
Company Announcement Business Standard
Bengaluru-based Course5 Intelligence, an analytics and AI solutions company, has raised USD 25 million, led by Nuvama Asset Management. In May, Course5 had attracted USD 28 million in the first close of the same round led by 360 ONE Asset Management, formerly IIFL Asset Management. The round also saw participation from Carnelian Asset Advisors. ICICI Securities and JM Financial acted as the exclusive financial advisors to the company for the transaction. Khaitan & Co. were its legal advisors. Course5 is looking at acquiring synergistic assets in the US, the UK and India, each in the range of USD 10-20 million in revenue. The firm is in talks with five companies and plans to complete two acquisitions over the next year. It recently absorbed Incivus, an AI-based ad creation and optimization technology startup. Course5 also plans to use the fresh capital for further innovation in specific areas of applied AI such as deep learning, computer perception, natural language, and Generative AI.
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