Fractal Analytics, the first Indian AI company to IPO, saw its stock price dip on its debut, while other AI-related ventures in India and Africa secured significant funding, signaling both investor caution and continued growth in the sector. Fractal listed at 876 rupees per share on Monday, below its issue price of 900, and closed at 873.70, according to TechCrunch. This gave the company a market capitalization of approximately 148.1 billion rupees (around $1.6 billion), a decrease from its previous private-market valuation of $2.4 billion in July 2025.
Meanwhile, other companies in the AI space experienced positive developments. Neysa, an Indian AI infrastructure startup, secured backing from Blackstone and co-investors for up to $1.2 billion in financing. This included up to $600 million in primary equity and an additional $600 million in debt financing, as reported by TechCrunch. The funding will allow Neysa to expand its GPU capacity. Additionally, C2i Semiconductors, an Indian startup focused on power solutions for AI data centers, raised $15 million in a Series A round led by Peak XV Partners, bringing its total funding to $19 million. This investment comes as data center energy demand is projected to nearly triple by 2035, according to a December 2025 report from BloombergNEF.
In Africa, defensetech startup Terra Industries, founded by 22-year-old Nathan Nwachuku and 24-year-old Maxwell Maduka, raised an additional $22 million in funding, led by Lux Capital, just a month after a previous round. Terra Industries aims to build autonomous defense systems to protect critical infrastructure and resources, according to TechCrunch. Nwachuku stated his goal was to build Africa's first defense prime.
The contrasting fortunes of Fractal Analytics and the other AI-related ventures highlight the complex landscape of the AI market. While the muted IPO debut of Fractal may reflect investor anxieties, the significant investments in Neysa, C2i, and Terra Industries demonstrate continued confidence in the potential of AI and related infrastructure.
Peter Steinberger, creator of the AI personal assistant OpenClaw, joined OpenAI, according to TechCrunch. Steinberger stated that he wanted to "change the world, not build a large company."
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