Atanuu Agarrwal, upside ai funding, Endiya Partners, upside ai, kanika agarrwal, nikhil hooda, AI startups, upside ai investors, upside ai founders

Bengaluru: Upside AI, a SEBI-registered investment management startup, has raised $1.2 million in a seed funding round led by Endiya Partners.

Veteran stock market investor Vijay Kedia, Quantum Advisors chairman Ajay Nanavati and Myelin Foundry CEO Gopichand Katragadda also participated in the funding round.

The startup plans to use the funds raised to scale up its distribution, product, and tech teams that will focus on growing assets under management (AUM) from high net-worth individuals, family offices, and institutional investors.

Founded in December 2017 by Nikhil Hooda, Kanika Agarrwal and Atanuu Agarrwal, Upside AI is registered with the Securities and Exchange Board of India as a Portfolio Management Service and is currently focused on building products that follow a rules-based, systematic approach to investing.

The firm went live with its products to external investors in July 2019, with the first set of products focused on equity investing using proprietary machine learning algorithms to understand, recognise, and buy companies that are fundamentally good businesses.

Over the past year, the startup’s AUM has grown 10 times to more than Rs 55 crore with funds from several HNIs, and family offices.

“We believe the Indian asset management industry is in its early days with single digit penetration of household wealth. Over the next couple of years, we want to add 1,000 HNIs, family offices, and institutional clients and grow to Rs 1,000 crore AUM,” said co-founder Agarrwal.

Upside AI aims to use technology to run the entire operation chain — from client onboarding and investment tech to live tracking and reporting through a seamless UI/UX for clients.

“Upside AI has already attracted marquee clients ranging from large family offices, venture capitalists, CEOs of large MNCs in India and the US on the back of unique investment tech that the team has built in-house and extensively tested,” said Sateesh Andra, managing director, Endiya Partners. “The funding will help them build a robust pipeline of differentiated tech products and a network of large distributors, wealth managers and stockbrokers.


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

NEWS RELATED

Monarch Networth Capital to soon launch Rs 100 crore startup fund

Ahmedabad-based financial services company Monarch Networth Capital will soon launch its Rs 250 crore category III AIF fund and a Rs 100 crore startup fund that it will look to raise from high networth individuals or HNIs, a senior company official said. It will also apply for a mutual fund…

Read more: Monarch Networth Capital to soon launch Rs 100 crore startup fund

Digital platform Bandhoo raises $1.1 million from Unitus

Bandhoo, a digital platform focussed on the construction sector, has raised $1.1 million from Unitus Ventures. By working closely with real estate, infrastructure and construction companies, building-material suppliers, and construction workers, Bandhoo is set to make the labor market more transparent and efficient. With this, Unitus Ventures completes its twelfth…

Read more: Digital platform Bandhoo raises $1.1 million from Unitus

Axio Biosolutions raises $6 million in funding led by Truescale Capital

Medical technology company Axio Biosolutions on Tuesday said it has raised $6 million (about Rs 45 crore) in a funding round led by Truescale Capital. Existing investors Omidyar Network India, University of California-Ratan Tata Fund, and Accel also participated in the funding round, the company said in a statement. It…

Read more: Axio Biosolutions raises $6 million in funding led by Truescale Capital

British femtech Elvie lands £58M funding for its smart breast pumps and more

The femtech industry is expected to become a $50 billion market by 2025. To capitalise on this growth, London-based Elvie, a leading femtech startup that develops iconic and smart products for women has bagged £58 million in a Series C funding round. Growth plans ahead The investment round was led…

Read more: British femtech Elvie lands £58M funding for its smart breast pumps and more

Electric car subscription startup Onto races ahead with $175M to drive Britain towards a greener future

The electric car market is growing exponentially. According to a recent report, global sales of electric cars raced forward in 2020, rising by 43% to a total of 3.2 million, despite overall car sales slumping by a fifth during the coronavirus pandemic. Combine this with the rise of the subscription…

Read more: Electric car subscription startup Onto races ahead with $175M to drive Britain towards a greener future

Reimagining email: London’s SEDNA secures $34M Series B funding to take on Gmail and Slack

Modern businesses are approaching an inflection point! Divided attention, siloed information, and fragmented context have created unprecedented challenges for organisations dealing with enormous volumes of information. Here’s where London-based SEDNA comes into play. The UK startup has developed an Intelligent Communications System that serves as the primary digital workspace for…

Read more: Reimagining email: London’s SEDNA secures $34M Series B funding to take on Gmail and Slack

Fintech startup Nium becomes unicorn after $200-million funding

Nium, a business payments company based in Singapore, has become a unicorn after raising more than $200 million in a funding round led by Riverwood Capital. Unicorns are privately held companies with a valuation of at least $1 billion. Including the latest round, which also saw participation from Singapore’s state…

Read more: Fintech startup Nium becomes unicorn after $200-million funding

Eloelo raises $2.1 million to strengthen creator tie-ups, fuel expansion

Pune: Eloelo, a Bengaluru-based social gaming and livestreaming startup, has raised $2.1 million in a pre-Series A funding round that was co-led by Waterbridge Ventures and Lumikai Fund. Better Capital and Exceed Entertainment also participated in the financing. The new capital will be used to strengthen creator partnership as well…

Read more: Eloelo raises $2.1 million to strengthen creator tie-ups, fuel expansion

Balderton Capital leads €14M investment in Spanish fintech Cobee to transform employee benefits

Glasgow space tech startup bags £3.1M funding to help companies with end-to-end data services

ShareChat raises $145 million from Temasek, others at near $3 billion valuation

Cashify buys UniShop as it looks to expand both online and offline

MyGlamm gets additional Rs 355 crore in funding led by Accel

Knorish gets $1.1 million funding from Inflection Point Ventures, others

Wise vs Monzo vs Revolut: UK’s digital banks compared. Which is more cost-efficient, hassle-free and mobile?

Jeff Bezos-backed NotCo gets funding at $1.5-billion valuation

OTHER NEWS