[Funding] AI Platform o9 Solutions raises $100 million from KKR, plans to ramp up hiring in India

By : |June 19, 2020 0

o9 Solutions is a provider of a premier AI platform. It powers the digital transformations of integrated planning and operations for global companies. It is looking to accelerate growth in India and Asia. Thus, o9 Solutions has received a minority equity investment from leading global investment firm KKR. This will now value o9 at over one billion dollars.

Further, the company intends to hire India-based talent in emerging technologies. These include Artificial Intelligence, Machine Learning and other key technologies in the Digital Transformation space.

About the deal between o9 Solutions and KKR

The AI Platform has raised $100 million (around Rs 761 crore) from global investment firm KKR. Also, this deal with KKR will value o9 at $1 billion.

With its first external investment from KKR, o9 plans to fast track the delivery of its differentiated technology solution to clients across the globe, including in India. Also, it will help it realize its objective of becoming a category-defining platform for the digital transformation of integrated business planning and operations.

What did Industry leaders have to say on this?

Speaking on o9’s plans for India, Chakri Gottemukkala, CEO and Co-founder, o9 Solutions, said:

The funding from KKR is enabling us to accelerate growth across global markets, including India. India is also the place where we hire world-class Development and Consulting talent. In the last year, our India team grew by close to 100 per cent. We have onboarded about 100 new hires even amid the pandemic. We will continue to hire both experienced professionals and freshers from IITs, IIMs and other premier institutions.

Commenting on the India market, Sanjiv Sidhu, Chairman and Co-Founder, o9 Solutions:

Rapid digital transformation of planning and operations capabilities—to drive resilience, agility, productivity, cost management—has become a key business priority for CXO’s in these times of COVID-19. The capabilities offered by the o9 platform are now increasingly mission-critical for any global company. We have been associated with reputed Indian companies in the last few years and see a lot of opportunities to bring in best-in-class Planning processes and technologies to our premier Indian and Asian Blue-Chip clients who are themselves competing in the world space.

Jake Heller, Co-head of KKR’s Technology Growth team in the Americas, said:

Digitization and the rapid advancement of economies in Asia are secular growth themes that KKR has focused on. Sanjiv and Chakri are industry pioneers who have built a best-in-class team and technology platform to transform how companies manage supply chains and operations. We are thrilled to be the first external investor in o9 and also to provide the support of our global platform as the team continues to accelerate their growth in Asia.

Read More: [Funding] Ola Money reportedly raises Rs 205 crores from matrix partners

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