HomeBusinessUpside AI raises $1.2 million in seed funding from Endiya Companions

Upside AI raises $1.2 million in seed funding from Endiya Companions

Bengaluru: Upside AI, a SEBI-registered funding administration startup, has raised $1.2 million in a seed funding spherical led by Endiya Companions.

Veteran inventory market investor Vijay Kedia, Quantum Advisors chairman Ajay Nanavati and Myelin Foundry CEO Gopichand Katragadda additionally participated within the funding spherical.

The startup plans to make use of the funds raised to scale up its distribution, product, and tech groups that can give attention to rising property beneath administration (AUM) from excessive net-worth people, household workplaces, and institutional traders.

Based in December 2017 by Nikhil Hooda, Kanika Agarrwal and Atanuu Agarrwal, Upside AI is registered with the Securities and Alternate Board of India as a Portfolio Administration Service and is presently targeted on constructing merchandise that comply with a rules-based, systematic method to investing.

The agency went dwell with its merchandise to exterior traders in July 2019, with the primary set of merchandise targeted on fairness investing utilizing proprietary machine studying algorithms to know, recognise, and purchase corporations which might be essentially good companies.

Over the previous yr, the startup’s AUM has grown 10 occasions to greater than Rs 55 crore with funds from a number of HNIs, and household workplaces.

“We consider the Indian asset administration business is in its early days with single digit penetration of family wealth. Over the following couple of years, we need to add 1,000 HNIs, household workplaces, and institutional purchasers and develop to Rs 1,000 crore AUM,” stated co-founder Agarrwal.

Upside AI goals to make use of know-how to run all the operation chain — from shopper onboarding and funding tech to dwell monitoring and reporting by means of a seamless UI/UX for purchasers.

“Upside AI has already attracted marquee purchasers starting from giant household workplaces, enterprise capitalists, CEOs of enormous MNCs in India and the US on the again of distinctive funding tech that the crew has constructed in-house and extensively examined,” stated Sateesh Andra, managing director, Endiya Companions. “The funding will assist them construct a strong pipeline of differentiated tech merchandise and a community of enormous distributors, wealth managers and stockbrokers.

RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments