Elever Investment Adviser Pvt Ltd, which runs artificial intelligence-based investment app Elever, said it has raised $750,000 (around Rs 5.6 crore) from a host of angel investors including Massimo Vita (Executive Director at Asia Impact SG), Udaya Kumar (MD and CEO at CreditAccess Grameen) and Seetharaman Babu (Regional Engineering Director in a multinational OEM in automation industry), among others.
The Bangalore-based firm will deploy the fundraise to aid validate product fit for market and building its team.
Elever was rolled out by Anshul Sharan, Ram Subramaniam and Santosh Aiyar in 2020, to help its users achieve their financial goals.
"We strongly believe that every person, irrespective of their financial status and understanding, has the right to improve their lifestyle by investing and achieving their goals.
However, the majority of the people in India, especially non-HNIs, do not get the right, unbiased and affordable service. We are bringing an artificial intelligence-driven platform to bridge this gap in a simple and affordable manner," said Anshul Sharan, Co-Founder and CEO of Elever.
The startup further claimed that they are using a unique investing process called 'systematic lifestyle planning' to recommend, manage and track diversified suited portfolios to help its customers achieve their financial goals.