IPO-bound StockGro raises ₹110 crore from existing investors
Investment tech startup StockGro has raised ₹110 crore (approximately $10.4 million) as part of its ongoing Series B funding round. This latest funding comes as the company prepares for its initial public offering.
Investment technology startup StockGro has secured an additional ₹110 crore (approximately $10.4 million) as part of its ongoing Series B funding round. This capital infusion follows the company's confidential filing of draft IPO papers with India's Securities and Exchange Board (SEBI) last week.
Existing investor BITKRAFT Ventures led the round, with participation from Aditum Venture Capital Fund, India SME Growth Fund, and actor Suniel Shetty. According to company filings, the round involved the issuance of 14,004 Series B CCPS shares at a price of ₹78,668 per share. BITKRAFT contributed ₹60.1 crore, and Aditum Venture Capital Fund invested ₹23.1 crore.
Other participants included India SME Growth Fund and Systematix Fincorp, alongside individual investors such as Suniel Shetty. The new funds are intended to fuel the startup's growth and expansion, meet working capital requirements, and support general corporate purposes.
StockGro focuses on stock market research, investing, and trading, integrating market analysis with social features. Users can track stocks, study portfolios, and interact with market experts. The company has raised approximately $110 million to date and claims to have served over 45 million users. StockGro's parent company, AssetGro Fintech Ltd, filed for its IPO on September 26. The company aims to raise ₹2,000 crore to ₹2,500 crore through the IPO.