Bengaluru-based InvestorAi raises $9.56 Mn in Series A funding to enhance its AI-powered stock recommendation platform for retail investors.
The startup, founded in 2018, claims its flagship product has consistently outperformed market indices over the past three years.
InvestorAi partners with major broking firms to offer its AI-driven investment solutions, aiming to make advanced technology accessible to individual investors in India.
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AI-focused wealthtech startup InvestorAi has secured INR 80 Cr ($9.56 Mn) in a Series A funding round led by Lucky Investment Managers’ founder Ashish Kacholia.
The Bengaluru-based company plans to use the fresh capital to scale its operations and develop new AI-driven investment products.
Founded in 2018, InvestorAi uses artificial intelligence to create stock recommendations for retail investors in India. Its flagship product, InvestorAi Equity Baskets, claims to have outperformed market indices consistently since its launch three years ago.
The startup offers its products through partnerships with several major broking firms, including HDFC Securities, Geojit, PL, JM Financial Services, Yes Securities, and Axis Securities.
Akshaya Bhargava, chairman and cofounder of InvestorAi, said, “We set up InvestorAi to make advanced AI technology accessible to retail investors. Our three-year track record shows strong returns that have consistently beaten the index by a significant margin.”
The funding comes at the heart of India being home to 13,000 startups focused on new emerging technologies across sectors such as artificial intelligence, internet of things, robotics and nanotechnology by the end of FY24, the Economic Survey 2023-24 said.
This growth is propelled by increasing AI adoption across sectors like healthcare, finance, manufacturing, and retail. The Indian government’s National Program on AI is also supporting this expansion.
InvestorAi’s funding comes at a time when the wealthtech space has been gaining a lot of traction from investors.
In July, Stable Money secured INR 123.5 Cr ($14.7 Mn) in its Series A funding round led by RTP Capital, along with participation from Matrix Partner and Lightspeed Ventures.
Earlier this month, another player, Infinyte.Club,raised $3.6 Mn from Elevation Capital and a host of angel investors, including CRED founder Kunal Shah and Meesho cofounder Vidit Aatrey.
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