Bengaluru-based social investment platform StockGro has raised $32 million in a Series A funding round from BITKRAFT Ventures, General Catalyst, and Itai Tsiddon (co-founder of Lightricks, an Israel-based unicorn).

Existing investors Roots Ventures and Creed Capital Asia and a syndicate of angel investors who are founders of Base 10 Capital, Junglee Games, Nazara Technologies, and Robinhood also participated in the funding round.

As per the startup, the raised funds will be used to tap into more markets, introduce new product offerings, and ramp up its hiring across all functions.

StockGro | Making Investment Social

Founded by Ajay Lakhotia in January 2020, StockGro, with a gamified virtual interface, enables users to learn how to invest in stock markets, discover trading strategies, compete and interact with some of the country’s best minds. 

Speaking about the development, Ajay Lakhotia said,

“Having set up a solid foundation, our aim is to build a disciplined culture of trading in India’s and help the digital generation of today to invest in an informed and learned manner. The funding further reinforces the faith of our investors in our vision of bringing this transformation.”

The social investment platform claimed to have doubled its user base from five million in October 2021 to 10 million as of January 2022. Now, StockGro plans to expand its offering to include various new asset classes including commodity, crypto, forex, gold, and bonds and add new features including technical analysis and macro trends.

In August 2021, the social investment platform raised $5 million in a pre-Series A round of funding led by Roots Ventures and Velo Partners. To date, StockGro has raised $40 million in funding.

As per a statement by the Bengaluru-based social investment platform, this funding round also included a commitment for secondary financing for its early backers which would lead to multi-fold returns on their previous investments.

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