September 2026
Largest Generative AI Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Affle 3i, Nava, Fractal Analytics, Capillary Techs India and Kellton Tech Solutions.
 | Affle 3i Ltd Formerly Affle India Ltd is engaged in the technology business across the globe. The company is engaged in a fragmented advertising and marketing tech ecosystem by providing an end-to-end integrated mobile marketing platform. The company's AI-powered deep learning algorithms and advanced platform solutions transform ads into consumer recommendations delivering enhanced engagement. The company has single segment of ‘business of providing services in advertisement and software development’. Geographically the company operates in India only. | $16 | -25% | $2.3B | $2.1B | 7.6x | 32.0x | ||
| Nava Ltd is a multinational company, operating in India, South East Asia and Africa. It is a diversified group, with businesses in Energy, Ferro alloys, Operation and maintenance, mining, agribusiness and healthcare. The company's business segments include: Ferro Alloys; and Energy. It derives maximum revenue from Domestic market. | $6 | -22% | $1.6B | $1.7B | 3.8x | 8.9x | ||
| Fractal Analytics Ltd is engaged in the business of providing products and/or services relating to conversational AI solutions that enable automated, human-like conversations between organisations and people. The company operates through two business segments: (i) Fractal.ai, which provides AI services and products to develop customized solutions for client-specific use cases across industry-specific and cross-industry applications, and (ii) Fractal Alpha, which includes AI-related business activities. Through these segments, the company serves clients across various industries and business functions. The majority of the company's revenue is derived from the Fractal.ai segment. Geographically, it operates in the United States of America, Europe and APAC & Others. | $8 | -- | $1.3B | $1.3B | 3.7x | 25.7x | ||
| Capillary Technologies India Ltd is a software product company offering artificial intelligence (AI)-based cloud-native Software-as-a-Service (SaaS) products and solutions. The company's product portfolio includes loyalty management platform (Loyalty+), connected engagement platform (Engage+), predictive analytics platform (Insights+), rewards management platform (Rewards+) and customer data platform. Geographically, the company has a presence in the United States, United Kingdom, United Arab Emirates and other Asian countries. It serves various industries including Airlines, Fuel Retail, Conglomerates, Hospitality, Retail, and Food & Beverage. The maximum revenue is derived in the form of Subscription Revenue from the United States of America. | $6 | -- | $497M | $487M | 6.4x | 38.3x | ||
| Kellton Tech Solutions Ltd is engaged in the provision of information technology (IT) services. The company operates through three segments, which include Digital Transformation, Enterprise Solutions, and Consulting. It generates maximum revenue from the Digital Transformation segment. The company serves construction, energy and utilities, healthcare, manufacturing, real estate, chemicals, distribution, food and beverage, oil and gas, and other industries. It provides services such as AI & ML, Digital Experience, Cloud Engineering, Product Engineering, and others. | $0 | -48% | $75M | $94M | 0.7x | 6.4x | ||
| Median | $6 | -25% | $1.3B | $1.3B | 3.8x | 25.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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