Savart, a tech-based investment advisory raises around $1.5 million in a pre-Series A funding round led by 9Unicorns and Venture Catalysts’ Angel Fund. Other investors that participated in the ride included existing investor Beenext Asia Fund and several other angel investors.
The Hyderabad-based start-up aims to simplify investing in stocks and mutual funds following a psychometric analysis. The fresh funds would help Savart double down on its marketing efforts, ramp up the product suite expansion and expand its global reach on the diverse network of the 9Unicorns and VCATS family.
On the funding, Sankarsh said, “We are pleased to receive the investment from 9Unicorns, VCATS, our existing investors and angels. We are glad to have the faith of investors who believe that Savart's journey to becoming India's largest investment advisor is just one step in our journey to be the world's largest & impactful asset management business.”
“We are extremely delighted to back this very young and dynamic entrepreneur trying to make investing easier and simplified with pioneering technology that precedes most robo-advisories in India,” said 9unicorns
Savart is looking to take its APART technology global. The company is also betting on local languages and expects its platform to be present in five languages, including English, Hindi, Telugu, and Gujarati over the next five months.