Mahindra Group-owned supply chain services firm Bristlecone has grown its topline 24% year-on-year and added 15 new Fortune 1000 clients as it works towards becoming a billion-dollar valuation company.
Mumbai, October 26 — Bristlecone, the Mahindra Group-owned AI-powered supply chain services company, has reported 24% year-on-year topline growth as it expands its global business and pursues an ambition to reach a billion-dollar valuation.
Managing Director and CEO Lakshamanan Chidambaram said the company has also added 15 new Fortune 1000 clients, which he described as evidence that its recent growth initiatives are working.
Bristlecone, which was acquired by the Mahindra Group in 2004, specialises in helping companies improve supply-chain performance and customer experience through technology and domain expertise.
The company has launched an internal “Project Unicorn” aimed at building Bristlecone into a billion-dollar valuation business over the coming years.
As part of this strategy, Bristlecone has doubled the size of its sales team and expanded its range of services while continuing to focus primarily on supply-chain solutions.
Its traditional strength has been ERP-based supply chain services, but the company has now expanded further into data analytics, artificial intelligence and product engineering.
Chidambaram said AI-related projects currently tend to be smaller than large SAP implementation projects but can help establish the company as a technology thought leader and generate downstream business.
Revenue linked to AI interventions currently accounts for around 10-12% of Bristlecone’s topline.
The company is also investing heavily in proprietary technology assets.
Over the next two years, around 10% of its investment is expected to go towards accelerators, frameworks, intellectual property and product development.
The objective is to make a larger share of revenue less dependent on manpower and more driven by reusable IP-based solutions.
Bristlecone operates across three major global markets, with the United States as its largest market, followed by Europe and India.
Its business is focused on four key industries — high technology, retail and consumer goods, manufacturing, and life sciences.
The high-tech segment is expected to remain a major growth driver, supported by rising investment in data centres and semiconductors for artificial intelligence.
Manufacturing and pharma/life sciences are also expected to contribute strongly.
The company has already deployed advanced technologies within the Mahindra Group.
At Mahindra’s Pune manufacturing plant, Bristlecone implemented AI, augmented reality, virtual reality and computer vision across thousands of machines, helping achieve 99.99% uptime and a 30% reduction in manufacturing energy consumption.
Bristlecone is also positioning its expertise around supply-chain resilience as geopolitical uncertainty makes global operations increasingly difficult to predict.
