Zifo, the AI/ML and data for AI-based scientific informatics services company, is expanding its operations in Chennai, India. The company has added 50,000 sq ft of new office space to its existing operations at DLF IT Park, Manapakkam. This move comes as Zifo aims to meet the growing demand for its services in research and development, manufacturing, and clinical domains across various industries such as pharma, biotech, chemicals, food & beverage, oil & gas, and FMCG.
The expansion was inaugurated by Palanivel Thiaga Rajan, the Tamil Nadu minister for IT and Digital Services. Zifo’s Managing Director and CEO, Raj Prakash, expressed his excitement about being in an industry where they can directly impact the lives of millions of people worldwide by accelerating R&D in critical sectors. He stated that the company is well-positioned to take advantage of the growth momentum from the adoption of AI/ML-based services in R&D.
Founded in 2008, Zifo has established itself as the preferred scientific informatics partner for 11 of the Top 15 global biopharma companies. The company operates in 11 countries and serves clients in 21 nations through employees from 31 nationalities. Raj Prakash emphasized that Zifo’s services are focused on specialized scientific areas and their work begins from the early stage of drug discovery in labs. He mentioned that about 99% of their business is conducted outside of India.
With over 2,300 employees globally, Zifo currently has around 1,800 employees working in its Chennai offices. The company plans to recruit approximately 1,000 new employees this year and aims to become a 5,000-member strong company globally by 2025, with a majority of its workforce operating from Chennai.
As a largely bootstrapped organization, Zifo received a significant investment from TA Associates about 18 months ago. This investment has fueled the company’s growth, with Raj Prakash stating that they have been growing at a rate of 30% for several years and are projected to achieve a turnover of Rs 1,000 crore this fiscal year (2023-24).
Zifo’s expansion in Chennai demonstrates its commitment to meeting the rising demand for AI/ML and data-based scientific informatics services. By bolstering its operations and increasing its workforce, the company aims to continue playing a crucial role in accelerating R&D across various industries, ultimately benefiting millions of people worldwide.
