Trading and investing platform Investmint on Tuesday said it has raised $2 million (around Rs 16 crore) in seed funding round led by Nexus Venture Partners.
The app is currently in beta and will be launched over coming weeks, the company said in a statement.
Investmint will deploy the fresh proceeds to expand its product, engineering and quantitative research teams.
The startup was founded by Aakash Goel and Mohit Chitlangia in February this year.
The core team also includes Sandeep Rao (formerly with CapitalMind) who heads quantitative research at Investmint. The app currently has multiple quantitative models for investing in stocks using long term baskets, as well as models to trade actively on a weekly or daily basis. For advanced traders, it includes models to trade in the Futures and Options segment, the statement added.
“At Investmint, we are building a game changing product for retail investors and traders who believe in managing their own funds themselves,” Goel said.
“The last two years have seen a substantial rise in equity investing in India by retail investors. However, high quality data models have not been easily accessible to retail and do-it-yourself investors. Investmint has a unique approach and product to make such data models accessible in a manner that are easy to understand and track, and we are excited to partner with them in this journey to catalyse retail participation in stock markets,” said Anup Gupta, Managing Director, Nexus Venture Partners.
Live commerce platform Shopr.tv has raised $1.7 million (about Rs 14 crore) in a seed funding round from a clutch of investors including
The round also saw participation from individual investors including CRED’s Kunal Shah, Groww’s Lalit Keshre and Venky Karnam, among others.
The Bengaluru-based firm will use the fresh capital to strengthen its technology, product offerings and team.
Founded by Akhil Suhag, Akshay Suhag, Mukul Anand, and Tushar Dhara in 2021, Shopr.tv helps sellers and retailers to reach their target audience through live drops, virtual pop-ups, collection launches and clearance sales. It claims to have recorded a 100% month-on-month gain both in terms of gross merchandises value (GMV) and total number of orders.
“Our ambition is to create for India a shopping experience that’s engaging, highly interactive, and veritable. We have the right product, the right team, an enthusiastic market, and now the perfect partners who share our vision of transforming the way India shops,” said Akhil Suhag, Co-founder and chief executive officer of Shopr.tv.
