In a seed funding round, SEBI registered investment management startup, Upside AI raised $1.2 million led by investors like VC fund, Endiya Partners.

Upside AI raises $1.2M in seed round led by Endiya Partners - StartupLanes.com

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2021-06-21 12:00:09

In a seed funding round, SEBI registered investment management startup, Upside AI raised $1.2 million led by investors like VC fund, Endiya Partners.

Investors like Gopichand Katragadda – CEO of Myelin Foundry, ex-CTO of Tata Group, MD of 3M, Ajay Nanavati – Chairman of Quantum Advisors, previously Chairman of Syndicate Bank, and Vijay Kedia – veteran stock market investor participated in the round.

Upside AI spent a year in beta and went live with its products to external investors in July 2019 after its founders Kanika Agarrwal, Nikhil Hooda, and Atanuu Agarrwal launched the company back in 2017.

While delivering 71% cumulative returns since Jul 2019, Upside AI ranks among the top-performing Portfolio Management Services in the country, according to their press note.

Commenting on the fundraise, Atanuu Agarrwal, Cofounder, Upside AI, said, “We believe the Indian asset management industry is in its early days with single-digit penetration of household wealth. Technology and rules-based investing already dominate mature markets; in fact, the top five hedge funds in the world are quant funds. Five to ten years from now, this will play out in India too and we are excited to be at the forefront of this movement.”

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