Fractal Analytics
Enterprise AI, Now With a Stock Ticker
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Most AI companies are racing to prove they can survive long enough to go public. Fractal Analytics has already done it. The 26-year-old firm, founded by Pranay Agrawal, Srikanth Velamakanni, and Petar Novkov, listed on Indian stock exchanges in February 2026 and reported revenue of ₹2,820 crore for FY25, up 26% from the prior year.
The product portfolio runs through Fractal.ai, its AI services arm, and Cognetiq, its agentic AI platform. Under the IndiaAI Mission, Fractal is building a 70-billion-parameter healthcare reasoning model backed by Rs 120 crore in government funding and access to Nvidia H100 chips.
The model is targeting a launch on Independence Day 2026. Velamakanni, recently appointed Nasscom chairperson, has been refreshingly candid about the economics: the government covers about 40% of compute costs, with Fractal paying the rest. For investors, the combination of market-proven scale, institutional alignment, and a clearly defined healthcare AI mandate makes Fractal one of the more legible long-term plays on this list.
