Srikanth Velamakanni: How I Built India’s First AI Unicorn After Doubting ‘Honest Businessmen’ Exist

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Srikanth Velamakanni never imagined that he would one day be the founder of Fractal Analytics, an AI firm with around 5000 employees. Coming from a modest background, his father often told him that all businessmen were corrupt and that, as a middle-class Indian, he would never have the capital to start a company. But life had other plans.

A serendipitous meeting with Narayana Murthy in a business ethics class at IIM Ahmedabad in 1997 changed everything. At the time, Infosys was not yet the global giant it is today, but Srikanth was deeply impressed by Murthy’s vision and values. That encounter made him realise that an “honest businessman” wasn’t an oxymoron after all. It marked a shift in his thinking, and as he saw his peers raise funds and venture into entrepreneurship, he felt the spark of possibility. In 2000, Srikanth, Pranay Agrawal and four others took the plunge and founded Fractal, which went on to become India’s first AI unicorn.

A self-confessed Jeff Bezos fan, Srikanth embodies the belief that true customer-centricity means inventing on behalf of the customer, even when they don’t yet know what they want. His commitment to this philosophy has been pivotal in Fractal’s journey to becoming a global leader in AI.

Recently, Srikanth was appointed Vice-Chairman of NASSCOM, further cementing his position as a key figure in India’s tech ecosystem.

Stay tuned. We will be back next fortnight with more insights from India’s top leadership.

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