Total amount raised
$62.9 Millions
Latest funding date
1/1/2024
Location
StockGro has successfully raised Rs 205 crore in debt funding from Trifecta and Hindustan Media. The platform offers a gamified virtual interface for users to learn and practice stock market investments without using real money.
Keep reading to explore the intricacies of StockGro's fundraising journey and the investors backing this innovative platform.
What Is StockGro?
StockGro, founded in 2020, is a social investment platform based in Bangalore, Karnataka, India. The company was established by Ajay Lakhotia and Vijay Lakhotia.
StockGro offers a gamified virtual interface for users to learn and practice stock market investments without using real money. The platform allows users to discover trading strategies, compete, and interact with others.
With a team of 51-100 employees, StockGro connects users with SEBI-registered investment advisors and analysts, providing actionable stock insights and verified portfolios to help users make informed investment decisions.
How Much Funding Has StockGro Raised?
- Angel Round
- Amount Raised: $1M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop the initial product.
- Seed Round
- Amount Raised: $5M
- Date: August 2021
- Lead Investors: Roots Ventures, Velo Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: ₹2.4B
- Date: January 2022
- Lead Investors: BITKRAFT Ventures, General Catalyst, Itai Tsiddon
- Valuation at Round: $140M
- Motivation Behind the Round: To scale operations and increase market penetration.
- Debt Financing
- Amount Raised: ₹2.1B
- Date: January 2024
- Lead Investors: Hindustan Media Venture, Trifecta Venture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support further expansion and product development.
Total Amount Raised: $40M
Current Valuation: $140M
Key Investors
- Hindustan Media Ventures
- Details: Hindustan Media Ventures is a media company that is part of the HT Media group, involved in publishing and other media-related activities. They have invested Rs 85 crore in StockGro through optional convertible debentures (OCDs).
- Investment Focus Areas: Media, fintech, dining, fresh food delivery, real estate, hospitality.
- Notable Investments: Oyo, MobiKwik, EazyDiner, Zappfresh, Zvesta.
- Trifecta Ventures
- Details: Trifecta Ventures is a venture debt firm that provides financing solutions to startups. They have contributed Rs 120 crore to StockGro through non-convertible debentures (NCDs).
- Investment Focus Areas: Debt funding, technology, startups.
- Notable Investments: Not publicly disclosed.
- BITKRAFT Ventures
- Details: BITKRAFT Ventures is a global investment platform focused on gaming, esports, and interactive media. They led the Series A round for StockGro and hold an 11.08% stake.
- Investment Focus Areas: Gaming, esports, interactive media.
- Notable Investments: Not publicly disclosed.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies across various sectors. They participated in the Series A round for StockGro.
- Investment Focus Areas: Technology, innovation, early-stage companies.
- Notable Investments: Not publicly disclosed.
- Itai Tsiddon
- Details: Itai Tsiddon is an individual investor known for his involvement in technology and innovative startups. He participated in the Series A round for StockGro.
- Investment Focus Areas: Technology, innovation, startups.
- Notable Investments: Not publicly disclosed.
What's Next for StockGro?
StockGro stands at the cusp of significant growth, leveraging its recent Rs 205 crore debt funding to expand its platform and enhance user engagement. The fintech industry is booming, with increasing interest in social investment platforms that offer interactive and educational tools for stock market participation. This positions StockGro to attract a broader user base and tap into new markets.
Future fundraising opportunities appear promising, with the potential for additional equity or debt rounds to support ongoing expansion. The involvement of prominent investors like Bitkraft Ventures and General Catalyst underscores the company's strong market position and growth trajectory. However, StockGro must navigate challenges such as intense competition, regulatory hurdles, and maintaining user trust in a volatile market.
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