StockGro, a Bangalore-based social investment platform allowing users to explore trading strategies, has raised US$ 32 million in a Series A investment round co-led by General Catalyst, Itai Tsiddon and BITKRAFT Ventures on 20 January 2022.
Investors: The latest funding round featured BITKRAFT Ventures, General Catalyst and Itai Tsiddon as the lead investors with participation from Roots Ventures, Creed Capital Asia, Ankush Gera, Adeyemi Ajao, Nitish Mittersain and TJ Nahigian. The startup has managed to raise, in total, over US$ 38 million to date. It secured US$ 5 million in pre Series A funding round.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards bringing new products and recruiting fresh talent to support its operations.
About StockGro
Brought to existence in 2020 by Ajay Lakhotia, StockGro delivers a virtual investment platform to its clients, enabling them to comprehend different trading tactics, enter a competition, and learn from the leading trading professionals. The investment platform allows its users to initiate investment without risks. The learning resources available on the startup’s platform are updated by top fund professionals, managers, and traders to enhance clients’ trading knowledge and strategies. It also rewards the top-performing strategies of traders, and these individuals become famous for their tactics by gaining massive followers. Till now, the company has successfully managed to attract 10 million people.
What the Founder has to say: “Having set a strong foundation in the industry, we envisage developing a regulated trading culture in the subcontinent and encourage today’s generation to invest their funds in a meaningful and informed way.”- Ajay Lakhotia, CEO and Founder of StockGro.
What the Investor has to say: “The liberation of investment and finance is a significant theme worldwide, reinventing the values and culture of new generations. Today, below 2% of the Indian populace invest funds in the stock market. Competitions and gamification are major precursors of attracting new investors. In addition, they stimulate top-notch learning outcomes through a play and learn approach. The company possesses a great chance to drive people to invest their wealth in new assets, which include cryptocurrency and other assets besides stocks.”- BITKRAFT Ventures. “StockGro empowers and intrigues investors using an engaging and enjoyable product offering. We are extremely positive about StockGro’s growth and the platform’s gaining popularity. We are delighted to support them in their mission.”- General Catalysts.
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