IPO
Enterprise AI firm C5i files confidential IPO papers
Course5 Intelligence , an enterprise AI and data analytics firm, has filed its draft red herring prospectus via the confidential route. This filing represents the second attempt by the company to initiate a public listing. Its previous effort was halted in 2022 due to unfavourable market conditions.Founded in 2000 by Ashwin Mittal, Course5 Intelligence provides data analytics and enterprise AI solutions designed to assist large businesses in making data-driven decisions. The firm is backed by investors including 360 ONE Asset Management and Nuvama Asset Management. It had raised $55-M in 2023 in a round led by 360 ONE Asset Management’s Tech Fund. The company has also pursued inorganic growth, acquiring UK-based AI firm Datavid earlier this year in an all-cash deal valued at about $50-M, and purchasing Analytic Edge in 2024 for an estimated $30-M to $40-M.The company reported consolidated operating revenue of Rs.545.3-Cr for FY25, representing a 26% increase from the previous year’s Rs.431.4-Cr. However, its consolidated net profit decreased by 15% to Rs.48.3-Cr in FY25, down from Rs.56.7-Cr in FY24. About 74% of the firm's revenue is derived from the USA.
In May 2023, Course5 Intelligence had attracted about $53-M from 360 ONE, Edelweiss Private Equity, and others.For FY25, Navi had reported about Rs.340-Cr in Operating Income and about Rs.35-Cr in PAT.
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