Savart Raises INR 4 Crore
The funds will be used to develop its AI-based investment-research algorithm
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Savart, an investment advisory and technology brand, has raised about INR 4.09 crore from BEENEXT, Yatra Angel Network and Jitendra Gupta founder of Jupiter neobank.
BEENEXT has infused INR 3 crore, YAN invested INR 84 lakh and Gupta invested INR 25 lakh, said a statement.
The funds will be used to develop its AI-based investment-research algorithm—Vantage, fuel expansion into Canada and to grow its client base.
"We are excited to join hands with BEENEXT and YAN in our endeavor to redefine the investor experience. This funding is a big milestone in our journey. It will strengthen our business and accelerate the deployment of our products, allowing us to create a larger impact on the vast Indian demography that we cater to," said Hiren Chandaria, CEO of Savart.
"We are excited to partner with the team as they work to make investments smarter and help people create long-term wealth. The time is ripe for technological innovations across financial services. We are confident that Savart will help bring in financial inclusivity across markets through its innovative products," said Hero Choudhary, managing partner at BEENEXT.
Savart is an investment advisory platform founded in 2017 with the aim to assist investors build long-term wealth without compromising on their aspirations and passions. With a vision to make out-performing, consistent long-term investments, Savart has invested heavily in responsible research and innovation, giving birth to its automated AI & ML based investment research platform–Vantage. Savart's approach to market research and technology development is backed by science and treated as an art, added the statement.