StockGro, a Bangalore-based invest tech company, has raised ₹110 crore from existing backers including BITKRAFT Ventures and Aditum Venture Capital Fund. The funding, part of an extended Series B round, positions the startup for its upcoming IPO in the Indian market.
- ₹110 Cr raised from existing investors in Series B extension
- BITKRAFT Ventures leads ₹60.1 Cr investment tranche
- IPO planned to raise up to ₹2,500 Cr via fresh issue and OFS
What happened
StockGro has successfully raised ₹110.16 crore as part of its ongoing Series B funding round from its current set of investors. The latest investment is led by BITKRAFT Ventures, contributing ₹60.1 crore, with additional funds coming from Aditum Venture Capital Fund, India SME Growth Fund, Systematix Fincorp, and other individual investors including actor Suniel Shetty.
This funding round follows multiple earlier tranches in the Series B stage, including a ₹150 crore raise in December and a $13 million Series B1 round led by BITKRAFT. The company has approved the issuance of 14,004 Series B Compulsorily Convertible Preference Shares at ₹78,668 each to secure this capital.
Why it matters
The fresh capital will be used to accelerate StockGro’s growth trajectory, expand its operational capabilities, and address working capital requirements. This financial boost comes as the company prepares for a significant public market debut, signaling investor confidence in StockGro’s business model and market potential.
StockGro operates in India’s fast-growing invest tech space, offering a platform that blends stock market research with social networking features and AI-powered tools. With over 4.5 crore users to date and backing from prominent investors, it is positioned to capitalize on rising retail investor interest in equities and mutual funds.
What to watch next
StockGro’s parent entity, AssetGro Fintech Ltd, pre-filed its draft IPO documents with SEBI in late September through the confidential route. The company aims to raise between ₹2,000 crore and ₹2,500 crore from the IPO, comprising up to ₹800 crore in a fresh issue alongside offer for sale by existing shareholders.
Investors and market watchers should monitor the final IPO structure and valuation, as well as how StockGro leverages this funding to grow its user base and market share. Developments on product offerings such as its AI assistant Stoxo and user engagement strategies will also be key indicators of its post-IPO performance.