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Private equity (PE) firm Kedaara Capital has invested $350 million in Impetus Technologies, a data, analytics, and artificial intelligence (AI) solutions provider.

The homegrown PE firm has acquired a strategic stake in the company to accelerate innovation in its data and AI business while leveraging the robust domain expertise of its 3,000-strong global engineering talent base, it said in a statement.

“Data, Analytics and AI are key drivers for innovation in the technology landscape and represent some of the fastest growing markets, advancing transformation across industries. Impetus has established itself as a transformative provider of Data and AI solutions to distinguished clients with a team of highly skilled engineering talent,” said Sunish Sharma, Founder and Managing Partner at Kedaara.

Impetus provides customised solutions for automating data platform modernisation, optimising cloud costs, building data platforms, and upgrading data catalogues to responsibly unlock data for Gen AI.

The PE firm’s investment will drive the company’s global growth, expand offerings in Gen AI, advanced analytics, and LeapLogicä—a cloud and data migration accelerator—and strengthen operational excellence with support from Kedaara’s senior team of former CEOs, experts in building market-leading businesses.

Data and AI services are essential across industries as businesses seek data-driven insights for innovation and competitive edge. Gartner projects this market to grow at a double-digit rate, surpassing $500 billion in the coming years.

“The age of data-driven strategic business advantage is upon us, and Impetus is at the forefront. The most successful business leaders today recognise data as their most valuable asset and strive to leverage it at the speed of their business, no matter where it resides,” said Praveen Kankariya, Founder and Executive Chairman of Impetus Technologies.

With over $6 billion under management, Kedaara Capital has invested in market-leading businesses across sectors such as consumer, financial services, pharma/healthcare, and technology/business services.