Course5 Intelligence, a leading analytics and AI solutions company, has successfully raised $53 million in its latest funding round, spearheaded by the Nuvama Crossover funds managed by Nuvama Asset Management Limited. The round also garnered participation from Carnelian Asset Advisors and its affiliates, marking a significant milestone in Course5’s expansion journey.
This funding round follows the initial close led by 360 ONE Asset Management Limited (formerly IIFL Asset Management) in May 2023, demonstrating continued investor confidence in the company’s vision and capabilities.
The newly acquired funds will fuel Course5’s plans for inorganic growth. Specifically, the company aims to strengthen its intellectual property (IP) portfolio, enhance its talent pool, and solidify key client partnerships. Additionally, the funds will support the company’s ongoing innovation efforts in applied AI fields, including computer perception, deep learning, natural language processing, and generative AI through its AI Labs.
In line with its expansion strategy, Course5 Intelligence has set aside approximately $80 million from its cash reserves and future cash flow for mergers and acquisitions (M&A). The company is currently in discussions with five potential acquisition targets and aims to finalize two deals within the next 12 months. These acquisitions are expected to focus on AI-driven companies in the US, UK, and India, each generating $10 million to $20 million in revenue, as well as smaller deep-tech AI startups.
Pranav Parikh, Managing Partner at Nuvama Private Equity, highlighted the global shift toward data-driven intelligence and the role of AI in this evolution. “The increasing complexity of data and the technological advancements in AI are driving widespread adoption of data-driven intelligence across enterprises. Course5, with its deep industry expertise and strong client base, is perfectly positioned to capitalize on this accelerating trend,” he said.
ICICI Securities and JM Financial served as exclusive financial advisors to Course5 Intelligence during the transaction.
Headquartered in Mumbai, Course5 Intelligence supports organizations in driving digital transformation through AI, advanced analytics, and actionable insights. The company’s solutions are designed to integrate data from both structured and unstructured sources, enabling businesses to make data-driven decisions for sustainable growth. Course5 serves a diverse range of industries, including technology, media, telecom, pharmaceuticals, consumer goods, and retail.
In addition, Course5 recently acquired Incivus, an AI-based ad creation and optimization startup. Incivus leverages AI technologies such as computer vision, generative AI, and natural language processing to provide granular insights into ad performance, predicting success with a high degree of accuracy. This acquisition further strengthens Course5’s AI capabilities, positioning it as a leader in the rapidly evolving digital analytics space.