Social investing platform StockGro bags funding of $10 million
- ByTejika Bajaj | December 29, 2021
Social investing and gaming platform StockGro has recently announced that it has raised a consolidated sum of $10 million in a fresh round of investment. This round is being led by San Francisco based BITKRAFT Ventures.
This accounts to be BITKRAFT Ventures’s second investment in India after it had funded GameZop last year. BITKRAFT Ventures, which focuses on gaming companies, has invested in Fortnite maker – EPIC Games, NFT creator Althea.ai and BeBopBee among others.
According to regulatory filings, StockGro’s existing investors Root Ventures, QLT Technology, U1 Fintech Investment, among others also participated in this funding round.
The fresh investment comes four months after the Bengaluru-based StockGro picked up $5 Mn in its Pre-Series A round. The startup had raised the funding from Root Ventures, and Velo Partners. Earlier, StockGro had raised $1 Mn in an angel round from Kunal Shah, Vivekanada Hallekere, Rahul Garg of Moglix, and Ramakant Sharma of Livspace.
Founded in 2020 by former VC Ajay Lakhotia, StockGro has a gamified virtual interface that enables users to discover trading strategies, compete and interact with others. The startup has managed to blend in gaming, social and trading elements for its platform as well as integrated foreign exchange and global indices on its platform. The startup has onboarded several B-Schools across the country to hone these students’ trading and investment skills.
As per its website, the startup claims that it has hosted more than 500 events, has partnered with 250 institutions, and has recorded over 7 Mn registrations. StockGro’s total traded volume is close to INR 1 Lakh Cr.
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