Kristal.AI, an AI-powered digital asset management platform has raised $1.87 Mn in a Seed funding round led by IDG Ventures India. Angel investors including Shailesh Rao (Senior Advisor -TPG, McKinsey) and Amit Gupta (Founding Partner, Newquest Capital) also participated in this funding round.
Kristal.AI currently focuses on investors (clients) in the Singapore, Hong Kong and India (Bengaluru and Mumbai) markets.
TCM Sundaram, founding partner of IDG Ventures India said, “Kristal.AI’s platform is solving a real gap in the ultra and mass affluent market which is bigger than the equity mutual funds market, with investors seeking sophisticated trading instruments to increase their returns. We are very excited to partner with the Kristal.AI team to scale this new market”.
Kristal.AI: Looking To Democratise Wealth Management For Individuals, Family Offices And Others
Founded by Asheesh Chanda and Vineeth Narasimhan in 2016, Kristal.AI works with an entire spectrum of customers. This includes sophisticated funds and family offices as well as mass affluent clients, who do not receive the service they should from private banks, as shared by the company in an official statement.
It also aims to build a community of independent financial advisors, traders, and portfolio managers, thereby truly democratizing wealth management.
As Asheesh said, “2017 has marked the first steps Kristal.AI has taken towards delivering diversified investment solutions for our clients with clarity, consistency and complete transparency.”