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Fractal's Strategic Sale of Theremin.ai Boosts AI-Powered Investment Tech

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Michael Chen

June 4, 2024 - 10:27 am

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Fractal Divests Theremin.ai in a Strategic Move to Accelerate Growth in Advanced AI Technologies

In a pivotal alignment of innovation and strategic growth, Fractal has made public its decision to offload its deep reinforcement learning venture, Theremin.ai, to the prominent market player QiCAP.Ai. This deal underlines Fractal's guiding principles of nurturing ideas into robust businesses and is poised to invigorate Theremin.ai's focus on forward-thinking investment management solutions.

An Alliance to Propel Investment Technology

NEW YORK, June 4, 2024 /PRNewswire/ -- Throughout the globalization of data and the advent of new technology, the demand for advanced solutions in the vast realm of investment management has never been more pressing. Responding to this imperative, Fractal, an authority in artificial intelligence, has announced its strategic divestment of Theremin.ai, a promising venture dedicated to utilizing deep reinforcement learning for developing investment strategies. This move is crafted to aid QiCAP.Ai, a frontrunner in quantitative investment for the Indian markets, by providing a technological foundation to elevate their platform's capability in stock prediction and sentiment analysis.

Fostering Concentrated Growth and Innovative Ideas

The blueprint to divest Theremin.ai adheres to Fractal's innovative 'ideas2business' approach and the 'Alpha philosophy.' Both these initiatives are designed to free up capital for reinvestment into new ventures, thereby sustaining a cycle of constant innovation and financial prowess. For QiCAP.Ai, this collaboration means accessing new avenues to advance the GenAI LLM technology, thus enhancing their ability to design multifaceted stock market strategies, stemming from a single integrated platform.

Incubated Success: The Theremin.ai Journey

Theremin.ai emerged from the incubation efforts of Fractal, with financial muscle from OLMO capital. It quickly embarked on a journey to design and develop unique technology platforms that pinpoint lucrative investment opportunities, with an eye on Indian and Asian financial markets. With a robust foundation rooted in AI, the business has designed high-potential algorithms centered on the lower and middle frequency trading of securities. This is augmented by comprehensive data assets that harmonize conventional and alternative data sources.

Strategic Leadership Insights

  • Srikanth Velamakanni, Co-founder and pivotal visionary behind Fractal, articulated the impetus behind Theremin.ai: "By establishing Theremin.ai, we aimed to rigorously test our AI models' proficiency in autonomously generating and executing investment tactics within the challenging world of capital markets. The endeavor's success has now been fully acknowledged by QiCAP.Ai. We confidently believe that Theremin.ai is set to thrive under their tutelage, raising these algorithms and investment strategies to unprecedented heights."

  • Hemant Kothavade, Theremin.ai's Co-Founder & CEO, expressed optimism about the fusion, stating, "Our unwavering dedication to high-value alpha investment strategies is anticipated to receive a major enhancement through our alliance with QiCAP.Ai. This partnership promises to unlock the full potential of our work on low and middle frequency signals, as well as the platform in its entirety."

  • Reflecting on the significance of this venture, Gulu Mirchandani, the Chairman of OLMO Capital, conveyed his exhilaration: "This pivotal development stirs excitement within Theremin.ai. It facilitates the manifestation of value from our nascent investment venture in AI-powered investment analysis for Indian and Asian capital markets. Through Theremin.ai, we stride into a promising future."

  • Amit Rathi, QiCAP.Ai's Co-founder, highlighted the acquisition's strategic merits: "We are exhilarated to assimilate the capabilities of Theremin.ai into our platform, thereby enhancing our comprehensive range of investment services. This move seamlessly coincides with our vision to deploy avant-garde execution strategies for professional traders and devise innovative investment solutions for family offices."

The relinquishing of Theremin.ai effectively allows the business to persist with its vision of crafting avant-garde investment strategies and technologies tailored for the Indian and Asian markets.

Unveiling Fractal: A Titan in Enterprise AI

Renowned as one of the most esteemed purveyors of Artificial Intelligence to the globe's Fortune 500® companies, Fractal's cornerstone vision is to be the driving force behind every human decision within the corporate sphere. Fractal's formidable repertoire includes bringing together AI, engineering, and design to empower the operations of some of the most respected businesses worldwide.

Fractal sustains a suite of businesses under its expansive umbrella. These businesses encompass the likes of Crux Intelligence (AI-driven business intelligence), Eugenie.ai (AI focused on sustainability), Asper.ai (AI for revenue growth management), Senseforth.ai (conversational AI for customer service), and Flyfish (generative AI for Sales). Additionally, Fractal has nurtured the growth of Qure.ai, poised as a major player in the terrain of healthcare AI, particularly adept at detecting Tuberculosis and Lung cancer.

Spanning the globe, Fractal proudly boasts a workforce of over 4500 professionals distributed across 17 key global locations. These include the United States, UK, Ukraine, India, Singapore, the Middle East, and Australia. The organization has garnered commendations as both a 'Great Workplace' and ranks among 'India's Best Workplaces for Women' within the large category as recognized by The Great Place to Work® Institute. Furthermore, its accolades include being named as a frontrunner in Data Engineering Services 2024 & Data Science Services 2024 by Information Services Group, a leading force in AI and Analytics Services by Everest Group, and a top contender in the Customer Analytics Service Providers Wave™ 2023 by Forrester Research, Inc. Further information regarding Fractal and its ventures can be perused at www.fractal.ai.

Introducing QiCAP.Ai: Pioneers in Quantitative Investment

QiCAP.Ai stands as a trailblazer in the quantitative investment and trading domain. With a sharp focus on projecting high-frequency trading strategies across various asset classes, the group zeroes in on the Indian markets. Its foundation is laid on the bedrock of state-of-the-art proprietary technology and finely tuned quantitative models. These innovative models have been crafted by a team of adept engineers and mathematicians, who collectively endeavor to provide premier execution strategies to professional traders. Simultaneously, they offer distinctive investment solutions to family offices seeking to diversify their portfolios with opportunities that remain largely uncorrelated to conventional market offerings.

SOURCE: Fractal

In conclusion, this strategic realignment personifies the ever-evolving landscape of investment technology. By fostering the growth of Theremin.ai under new leadership, Fractal ensures not only the continued relevance of their incubated project but also sets the stage for QiCAP.Ai to ascend new heights in investment management. With both firms anchored by a commitment to innovation, the foundation has been laid for future breakthroughs that could well redefine how the world approaches investing.

The transaction between these two tech frontiers marks a milestone in the realm of artificial intelligence. The synergistic partnership is perfectly poised to streamline investment management workflows and usher in a new era of data-backed financial decision-making. As Fractal redeploys its resources toward further innovation, and QiCAP.Ai integrates Theremin.ai's prowess into its operations, the promise of transformative impacts on the financial sector looms large on the horizon.

Thus, the industry watches with anticipation as this fusion promises to birth a plethora of advanced analytics solutions. With the combined strengths of Fractal's AI capabilities and QiCAP.Ai's quantitative acumen, the investment landscape is on the brink of witnessing a revolution. The promise of technology seamlessly entwined with investment strategies signals a future where market predictions and sentiment analyses become more precise, more impactful, and integral to the genesis of wealth.

A Bright Future for Investment Analytics

The divestiture of Theremin.ai is a strategic maneuver that encapsulates the essence of modern-day business acuity. It does more than just streamline Fractal's operational focus—it serves as a testament to the company's commitment to nurturing technological revolutions. QiCAP.Ai, with its consummate reputation and expertise, is set to wield these newly acquired technologies to carve out a niche of unparalleled excellence in the quantitative investment sphere.

In this new chapter, the quest for leveraging artificial intelligence within investment strategies finds fertile ground. Whether it be through the intricacies of algorithmic trading, the finesse of predictive analytics, or the pioneering of novel data sources, the collaboration between Fractal and QiCAP.Ai breathes life into the next wave of innovative financial solutions. The transfer signifies not simply an ownership change but heralds an evolution in the way AI and investment management intertwine.

Embracing the Power of AI in Capital Markets

The unfolding story of Theremin.ai's divestiture is a powerful showcase of AI's transformative role in capital markets. It is a meshing of visionary leadership and prime technology, designed to answer the complexities of today's volatile investment terrain. With such well-placed strategic realignments, the future shines brighter for investors, financial analysts, and technologists alike, who stand at the cusp of a revolution powered by unmatched intelligence and innovation.

In the end, this transfer of Theremin.ai into the hands of QiCAP.Ai resonates as a shrewd and forward-looking strategy. It accentuates the essence of a thoughtful business evolution guided by expertise in AI and a keen understanding of market demands. The finance sector can look forward to ground-breaking advancements that will unfold as these two business entities synergize their expertise to redefine the tools and tactics of investment.