The Bangalore-based company said funds raised will be used for scaling the business and adding new products. | Source: Crunchbase
2 min read Last Updated : Aug 22 2024 | 10:11 PM IST
Equity investment platform InvestorAi has raised Rs 80 crore in funding led by Lucky Investment Managers founder Ashish Kacholia and his associates, the company said on Thursday.
The Bangalore-based company said funds raised will be used for scaling the business and adding new products.
“InvestorAi raises Rs 80 crore in Series A from ace investor Ashish Kacholia and associates,” the company said in a statement.
Founded in 2018, InvestorAi is an AI-powered equity investment platform that uses advanced AI to power stock recommendations for investors.
“We are convinced that India can lead the way and be a showcase for the world on how to use AI technology to create DIY wealth solutions that are simultaneously convenient, engaging, accessible to all and create good investment outcomes.
“We are delighted to have such an incredibly experienced market expert like Ashish Kacholia as an investor and are grateful for his confidence in our vision, our model and our team,” InvestorAi Chairman and co-founder Akshaya Bhargava said.
InvestorAi co-founder and CEO Bruce Keith said India’s retail investor base is currently around 150 million and growing at 3 million a month. The Indian stock market is expected to reach $ 10 trillion by 2030 from the current $ 4.8 trillion market cap.
“However, only 7 per cent of households’ income is invested in direct equities. This presents a largely untapped market opportunity which can be leveraged by the use of AI-led equity financing guidance.
“Our platform, InvestorAi, is the only platform in the Indian market that is multi-product, multi-broker and multi-manager and which also generates its own market-beating content,” Keith said.
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First Published: Aug 22 2024 | 10:11 PM IST
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