StockGro Secures Rs 205 Crore Debt Funding from Trifecta Ventures and Hindustan Media Ventures

• ByStartupStory     |    January 18, 2024

StockGro, the social investment platform, has successfully raised Rs 205 crore in a debt funding round from prominent investors Trifecta Ventures and Hindustan Media Ventures. This funding comes in two separate tranches, with Trifecta providing debt funding through non-convertible debentures (NCDs), and Hindustan Media investing Rs 85 crore in the form of optional convertible debentures (OCDs).

According to regulatory filings sourced from the RoC, StockGro issued 1,200 NCDs to Trifecta Ventures, raising Rs 120 crore, and 8,708 OCDs to Hindustan Venture, securing Rs 85 crore in funding. The company plans to utilize these funds for the expansion and growth of its business, meeting additional capital and financing requirements.

Founded in 2020 by former venture capitalist Ajay Lakhotia, StockGro has positioned itself as a fintech startup offering a social investment platform. Its interactive virtual interface enables users to learn about and actively participate in the stock markets.

Ajay Lakhotia, the Founder and CEO of StockGro, expressed the company’s vision, stating, “We are excited about the support from our investors. This funding will play a pivotal role in driving our expansion plans and meeting the capital needs for our ambitious growth trajectory.”

The company has previously raised approximately $40 million in equity funding, including a noteworthy Series A round of $32 million. This round was led by Bitkraft Ventures, General Catalyst, and Itai Tsiddon, resulting in a valuation of around $140 million.

Bitkraft STG Limited holds the largest external stake in StockGro at 11.08%, followed by Qlt Technology and Roots Ventures. Ajay Lakhotia, as the founder and CEO, retains a substantial 27.18% ownership stake.

While the financial statements for FY22 and FY23 are pending, StockGro reported an income of Rs 3.97 crore and a loss of Rs 2 crore in FY21.

Hindustan Media Ventures, one of the investors in this funding round, has previously invested in prominent startups such as Oyo, MobiKwik, EazyDiner, Zappfresh, and Zvesta, showcasing its commitment to supporting innovative ventures across various sectors.

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