Biography of Srikanth Velamakanni: Co-Founder and CEO of Fractal Analytics-Entrepreneur
Biography of Srikanth Velamakanni:
Early Education and Foundation
Srikanth Velamakanni's educational journey began at Kendriya
Vidyalaya, where he completed his primary and secondary education between 1979
and 1991. His formative years were marked by a solid academic foundation,
preparing him for higher education challenges. Following this, he pursued a
Bachelor of Technology in Electrical Engineering from the Indian Institute of
Technology, Delhi (IIT Delhi), from 1992 to 1996. His time at IIT Delhi
equipped him with a robust technical background, which would serve as a cornerstone
for his future endeavors.
Advanced Studies and Early Career
Srikanth’s academic pursuit continued at the Indian
Institute of Management Ahmedabad (IIM Ahmedabad), where he completed his Post
Graduate Diploma in Management (PGDM) with a focus on Finance and Marketing
from 1996 to 1998. This period was crucial in shaping his business acumen and
leadership skills. The blend of technical and management education positioned
him uniquely for a successful career in the business world.
Early Career and Foundational Roles
Srikanth Velamakanni embarked on his professional journey at
ANZ Investment Bank, where he worked as an Associate from June 1998 to June
1999. During this time, he contributed to structured finance and eurocurrency
syndicated loan transactions, gaining valuable experience in financial markets.
He then joined ICICI as an Assistant Manager in June 1999, where he was
involved in asset-backed and mortgage-backed structured finance transactions
and played a key role in launching India's first Collateralized Debt Obligation
(CDO) in 1999.
Co-Founding Fractal Analytics
Srikanth co-founded Fractal Analytics, a leading global
analytics firm, where he currently serves as the Group Chief Executive and
Vice-Chairman. Under his leadership, Fractal Analytics has grown into a
prominent player in the analytics and artificial intelligence industry,
providing data-driven insights and solutions to a wide range of clients. His
role involves overseeing the strategic direction and overall operations of the
company, ensuring it remains at the forefront of technological innovation and
analytical excellence.
The Early Days of Fractal
In 2000, Srikanth Velamakanni, then in his early thirties,
co-founded Fractal Analytics with a vision that was both ambitious and
innovative. Srikanth, who had a background in electrical engineering from IIT
Delhi and an MBA from IIM Ahmedabad, was previously an investment banker
working on complex financial products. His shift from finance to analytics was
driven by a shared interest in mathematics and a desire to use it in a
practical business context.
Biography of Srikanth Velamakanni: Co-Founder and CEO of Fractal Analytics-Entrepreneur/Investor/Plaksha University/Qure.ai/Success story of Srikanth
Discovering a New Frontier
Fractal’s journey began not with a clear-cut vision but with
a quest for something meaningful. Srikanth and his co-founders realized their
strengths lay in finance and mathematical modeling. They identified a gap in
the market: financial services needed better tools to assess credit risk. This
realization sparked their move from theoretical mathematics to practical
applications in business.
The Birth of a Concept
Their first major project was developing a statistical
scorecard for ICICI Bank to predict credit defaults. This was groundbreaking
because it was the first of its kind in India, leveraging statistical tools to
provide real-time risk assessments. This project marked the beginning of
Fractal’s journey into the analytics world, setting a foundation for future
innovations.
Early Challenges
The early days were filled with challenges. With no precedent for their work in India, Fractal faced skepticism from potential clients. The team had to demonstrate that their mathematical models could deliver real value. They had to build trust from scratch, overcoming doubts about their capabilities compared to established firms.
Global Challenges
Fractal’s challenges were not confined to India. They faced similar tests abroad, including a notable project with Capital One in the U.S. Here, they developed a survival analysis framework to predict customer attrition and the impact of interventions. This project further established their reputation and demonstrated their ability to compete on a global stage.
The Importance of Ambition
One lesson Srikanth learned from these early days was the importance of ambition. Initially, Fractal focused on establishing itself in the Indian market before considering international expansion. Over time, they realized that being more ambitious and taking risks could have accelerated their growth. This insight helped them adjust their strategy and pursue global opportunities more aggressively.
Building a Strong Foundation
As Fractal expanded, they emphasized the importance of
building a solid foundation. This included tackling challenging projects and
continually improving their models. Their focus was not just on immediate
financial gains but on establishing credibility and showcasing their
capabilities through successful project outcomes.
A Changing Landscape
The landscape of analytics was evolving, and Fractal was at
the forefront of this change. Their work in understanding consumer behavior
during the 2001 recession highlighted their ability to adapt to shifting market
conditions. By analyzing changes in purchasing patterns, they provided valuable
insights to companies like Hindustan Lever.
Overcoming Setbacks
Fractal faced a significant internal crisis when leadership
issues arose. The company experienced disagreements among partners, leading to
a period of instability. Srikanth describes this time as challenging but
ultimately transformative, as it helped the company become more resilient and
better equipped to handle future problems.
A New Direction
The leadership crisis led to a reevaluation of Fractal’s
management structure. Srikanth’s election as CEO was a pivotal moment, aimed at
resolving conflicts and streamlining decision-making processes. Although the
transition was difficult, it was crucial for the company's evolution and growth.
Strengthening the Team
The challenges faced by Fractal strengthened their team and
improved their problem-solving abilities. The crisis forced the company to
become more focused and better organized. Srikanth’s leadership and the team’s
collective efforts helped stabilize the company and position it for future
success.
Co-Founding and Leading Fractal Analytics
In February 2000, Srikanth co-founded Fractal Analytics, a
company that has become a leader in the analytics industry. Initially, he was
deeply involved in establishing the company and later took on the role of CEO
from 2006 to 2016. His tenure saw Fractal Analytics expand its reach and
influence, institutionalizing analytics across several Fortune 100 global
companies. During this period, he split his time between the Bay Area and
Mumbai, steering the company's growth and development.
In November 2016, Srikanth transitioned to the role of Group
Chief Executive and Executive Vice-Chairman of Fractal Analytics. He continues
to lead the company's strategic direction, focusing on inorganic growth and
long-term business sustainability. Under his leadership, Fractal Analytics has
maintained its position at the forefront of artificial intelligence and
analytics innovation.
Contributions and Board Roles
Srikanth is also a co-founder and trustee of Plaksha
University, which he has been associated with since March 2018. This role
involves contributing to the university’s vision and growth. Additionally, he
serves as Non-Executive Chairman at ideaForge and as an Independent Director at
Metro Brands Limited and NIIT Limited. His role as Chairman of the Board at
FinalMile Consulting and Crux Intelligence highlights his ongoing commitment to
advancing analytics and AI solutions.
From January 2016 to October 2022, he was the Founding
Chairman of the Board at Qure.ai, a company focused on leveraging AI to improve
healthcare diagnostics globally. His involvement in various AI-related
initiatives, including serving on the AI Task Force for the Ministry of Defence
of India and his past role as Co-Chairman of the NASSCOM BPM Council,
underscores his expertise in integrating AI into diverse sectors.
A Journey of Growth
The story of Fractal Analytics is one of growth, innovation,
and perseverance. From its early days of proving its value to becoming a
leading player in the analytics industry, Fractal’s journey reflects the power
of ambition and hard work. Srikanth Velamakanni’s leadership and vision were
instrumental in shaping the company’s success.
Reflecting on the Past
Looking back, Srikanth acknowledges the role of early challenges in shaping Fractal’s trajectory. The obstacles they faced were crucial in building their expertise and credibility. These experiences provided valuable lessons that helped them navigate the complexities of the analytics industry.
Continuing the Legacy
As Fractal Analytics continues to thrive, Srikanth’s legacy
is evident in the company’s achievements and impact. His journey from an
investment banker to a leading figure in analytics demonstrates the potential
for innovation and success in pursuing one’s passion. Fractal’s ongoing success
is a reflection of Srikanth’s vision and leadership.
A Vision for the Future
Looking ahead, Fractal Analytics remains committed to
innovation and excellence. Srikanth’s vision for the future includes continued
growth and expansion, both in existing markets and new ones. The company’s
dedication to providing cutting-edge solutions ensures that it will remain a
key player in the analytics industry.
The Power of Innovation
Fractal’s success highlights the power of innovation and its
impact on business. By leveraging mathematical models and data analysis, the
company has transformed how businesses approach decision-making. Srikanth’s
leadership has been instrumental in driving this innovation and establishing
Fractal as a leader in the field.
Timeline for Srikanth’s story
1979-1991: Completed primary and secondary education at
Kendriya Vidyalaya.
1992-1996: Bachelor of Technology in Electrical Engineering
from IIT Delhi.
1996-1998: Post Graduate Diploma in Management (PGDM) with a
focus on Finance and Marketing from IIM Ahmedabad.
June 1998 - June 1999: Worked as an Associate at ANZ
Investment Bank.
June 1999: Joined ICICI as an Assistant Manager, involved in
structured finance and launching India's first CDO.
February 2000: Co-founded Fractal Analytics.
2000-2006: Early days of Fractal, developing statistical
models and overcoming initial challenges.
2006-2016: Served as CEO of Fractal Analytics, leading its
growth and expansion.
November 2016: Transitioned to Group Chief Executive and
Executive Vice-Chairman of Fractal Analytics.
March 2018: Became a co-founder and trustee of Plaksha
University.
January 2016 - October 2022: Founding Chairman of the Board
at Qure.ai.
Current Roles: Non-Executive Chairman at ideaForge,
Independent Director at Metro Brands Limited and NIIT Limited, Chairman of the
Board at FinalMile Consulting and Crux Intelligence.
