AI-based investment tech startup Algobulls raised $2 million in pre-Series A led by Venture Catalysts group, an integrated incubator and a leading early-stage investment platform for startups where DSP Group (160-year-old Indian financial giant), Findoc Finvest by Mr. Hemant Sood and Mr. Nitin Shahi ( LetsVenture), Mr. Dishant Milan Parikh (Jainam Broking), Mr. Yuvraj Thakker (BP Wealth & Fort Capital), Mr. Sharath Kumar (ex-MD and CEO India, Tower Research Capital), among other funds and family offices also participated.
AlgoBulls provides fixed-income securities with annual returns ranging from 7% to 14% for retail in a fixed income marketplace, focusing on capital and income preservation through investments in Bonds, NCDs, and G-Secs for new retail entrants. Algobulls plans to invest the new funds in product offerings and technology infrastructure. AlgoBulls allows users to start investing from as little as INR 1,000 by displaying a variety of Bonds/NCDs/G-Secs to choose from and enabling quick settlements on the tech-driven platform. AlgoBulls, which was acquired organically, claims to have over 25,000 clients as of today.
