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.

Internet Explorer Channel Network


LATEST NEWS

NEWS RELATED

How this UK-based VC fund has backed 100 high-growth companies in less than 10 years

The UK venture capital fund, ACF Investors, that works alongside sector expert business angels to invest in high potential businesses, has marked a new milestone as it crossed 100th company investment. Launched in 2011, the company (formerly the Angel CoFund) has come a long way. In a tete-a-tete with UKTN,…

Read more: How this UK-based VC fund has backed 100 high-growth companies in less than 10 years

London-based ethical data pioneer CitizenMe raises £1.5M to grow globally

London-based CitizenMe, which provides an ethical alternative to the ad tracking techniques used by tech giants such as Facebook and Google, has raised a £1.5 million investment to build its global presence. Global expansion plans The investment round was led by North East Venture Fund (NEVF) supported by the European…

Read more: London-based ethical data pioneer CitizenMe raises £1.5M to grow globally

Carbon footprint tracker Cogo raises $20M ahead of COP26 UN climate summit

On a mission to empower hundreds of millions of consumers and businesses globally to take action by measuring, reducing and compensating for their impact, carbon footprint tracking expert Cogo has kicked off a $20 million Series A funding round just weeks ahead of the COP26 UN climate summit. Partnership with largest banks The team behind the…

Read more: Carbon footprint tracker Cogo raises $20M ahead of COP26 UN climate summit

B2B social platform, Mediaspace.global teams up with FLOWW.io to invite founders and investors to meet people, not profiles

Mediaspace.global, the new B2B professional networking platform for the media, marketing, tech, regulation, and innovation industry will be hosting FLOWW TALKS FUNDING with Annabel Acton in collaboration with Floww, a fundraising platform for startups and investors on 26th October at 11am BST in partnership with UKTN. Starting with this event, Mediaspace and Floww are about to invite all innovators, investors,  fundraising services and superconnectors in the related verticals, including the mediatech, adtech, martech, social, gaming, consumertech segments. When Mediaspace Founder, Kinga Incze started fundraising after graduating…

Read more: B2B social platform, Mediaspace.global teams up with FLOWW.io to invite founders and investors to meet people, not profiles

Customer data platform from UK, Distil.ai secures £400K funding to grow further

A UK company, Distil.ai, is a software platform that helps businesses to understand their customers’ behaviour and identify buying signals. This customer data platform has raised £400K investment from Mercia as it focuses on growth. Pursue growth strategy The business has achieved strong organic expansion over recent years and it…

Read more: Customer data platform from UK, Distil.ai secures £400K funding to grow further

London's networking platform Guild raises $2.7M to take on Linkedin and Whatsapp

London-based ad-free, digital community and networking app and platform for professionals, Guild has raised $2.7million in seed funding from existing angel investors, as it seeks to establish itself as an alternative to Linkedin and to those using WhatsApp for business purposes. Creating a platform and ecosystem for professional communities and…

Read more: London's networking platform Guild raises $2.7M to take on Linkedin and Whatsapp

Three things to know about the Customer Acquisition Cost

Customer Acquisition Cost (CAC) is the cost of acquiring a customer to purchase products. It works along with the Customer Lifetime Value (CLV). CAC is an important term for growth businesses.

Read more: Three things to know about the Customer Acquisition Cost

UK's first online clinic for women Naytal bags £300K funding, launches after beta period

UK’s first online clinic Naytal offers women instant access to perinatal psychologists, who are focused on supporting women through their pregnancy and postnatal journey. Recently, Naytal has bagged €356K (nearly £300K) in a pre-seed funding, which was led by Fuel Ventures. Launches after beta period Naytal has launched in the…

Read more: UK's first online clinic for women Naytal bags £300K funding, launches after beta period

Four Things to Consider Before Opting for Revenue Based Financing

British satellite scale-up ramps up £15M in oversubscribed funding

Microsoft launches 'AI Innovate' programme: Key details

Materials Market attracts £1.5M funding from Fuel Ventures to scaleup its digital solution

UK's events tech scaleup HeadBox closes £2M to accelerate global expansion

London-based insurtech BondAval picks $7M seed round led by Octopus Ventures

Delivery Hero leads $1B investment in on-demand delivery startup Gorillas

Vegan meal delivery startup from London allplants secures a £38M Series B round

OTHER NEWS