Tredence, a data science, and AI solutions company recently raised $175 million in its Series B funding from Advent International to accelerate data-fuelled growth and AI value realisation for industries.

Advent will also acquire a minority stake in Tredence with the $175 million investment. The funding will help Tredence build on growth momentum, strengthen vertical capabilities, and reach a broader customer base.

Also Read: Here’s a look at how 2022 panned out for the startup universe

Speaking to CNBC-TV18, Shub Bhowmick, co-founder and CEO of the company said, "The investment from Advent will be used for expanding the organisations reach both in terms of breadth and depth of our service offerings. We will consolidate our presence in verticals in which we have a significant presence today. We will additionally incubate new verticals such as insurance and healthcare. We will also be expanding into new geographies such as Europe, the UK and the Middle East. Also, we will be exploring M&A opportunities to further accelerate our growth."

Also, Vishal Chopra, co-founder, and CEO of WeRize spoke about the road ahead for the company. WeRize is a full-stack financial services platform that offers customised credit, group insurance, and savings products to users residing in small towns in India.

Watch the video for the entire discussion.

First Published:Jan 2, 2023 10:38 PM IST