Singapore-based startup Analytic Edge has officially been acquired by AI firm C5i.
Analytic Edge, which was founded by Santosh Nair and Vijay Ramaswamy in 2012 in Bengaluru, provides AI-based marketing and sales solutions, allowing companies to make data-driven marketing choices.
The Analytic Edge acquisition is the second such acquisition by C5i in India, after Incivus. According to reports, the AI firm is deciding on yet another acquisition before deciding on a listing in India within the next year and a half. Currently the AI firm is looking for a turnover of Rs 1000 crore in the coming fiscal year.
“We acquired Incivus in 2023 and its visual AI platform has helped us build and scale various product IPs. With Analytic Edge, we are adding more to that, such as marketing spend optimisation, real-time pricing intelligence, promotion optimisation, etc. Plus, they are close partners to top social media platforms,” CEO Ashwin Mittal said.
With the acquisition of two Indian AI startups that target different stages of the marketing process, it is safe to assume that C5i is currently on the lookout for other marketing-inclined AI startups to fill in the gaps in the process.
As of now, the company has revealed its intentions to help organisations overcome issues of data scarcity, prediction inaccuracy and biases by leveraging synthetic data. Thanks to this, C5i may be cornering the Indian marketing space, allowing enterprises access to synthetic data to further boost their AI capabilities, especially as India accounts for 2% of its current revenue.
This is just one in a stream of acquisitions occurring in India in the AI startup ecosystem, particularly in Bengaluru.
AI startups in the Silicon Valley of India have been acquired by major international companies, with the most recent acquisition by Walmart. The retail giant only recently acquired two AI startups based in Bengaluru – Int.AI and Dataturks – lending credence to the fact that Bengaluru has become the San Francisco of the East.
