Kedaara Capital invests over $350 million in data analytics provider Impetus Technologies | Company Business News-OxBig News Network

Bengaluru: Kedaara Capital has invested over $350 million in Impetus Technologies, which provides data, analytics and AI solutions to clients across the US and Europe. 

The company will use the funds to widen its footprint in the rapidly growing market and drive further innovation, Kedaara said in a statement on Thursday. Impetus will leverage Kedaara’s global expertise to accelerate its organic business growth. 

Currently, Impetus has a global presence in sectors such as financial services, healthcare and travel. “Data, Analytics and AI are key drivers for innovation in the technology landscape and represent some of the fastest growing markets, advancing transformation across industries,” Kedaara’s founder and managing partner Sunish Sharma said, 

The transaction will help Impetus unleash the next phase of growth and further its mission of delivering cutting-edge solutions, Sharm added.

With data and artificial intelligence-based services gaining prominence across industries, companies like Impetus have been big beneficiaries. They leverage data-driven insights to drive innovation and gain competitive differentiation. Gartner forecasts this market to grow at a double-digit rate to over $500 billion in the next few years. 

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Beyond data, analytics, and AI, Impetus also has enterprise software product offerings that enable businesses to accelerate transformation with up to 95% automation while ensuring operational efficiency, the company claimed. The company added that it has established partnerships with several companies, including AWS, Databricks, Google Cloud, Microsoft, and Snowflake.

Founded in 1996 by Ritu Bapna and Praveen Kankariya, the California-headquartered company also has a significant presence in other sectors, including education and telecom. Impetus’ services include offering tailored solutions for automated data platform modernization, cloud cost optimization, data platform creation, and data catalogue upgrades to unlock data responsibly for GenAI. 

Kedaara currently manages over $6 billion through investments across sectors, including consumer, financial services, pharma/healthcare, and technology/business services. 

Last year, the investment firm closed its largest-ever Indian private equity fund with a corpus size of $1.74 billion. Some of its prominent portfolio companies include Perfios, Purplle, Lenskart, K12 Techno Services and GS LAB among others.