Yobee Raises Seed Round From Angel Investors

The round of funding will be used to strengthen their technology stack and create distribution channels

learn more about Prabhjeet Bhatla

By Prabhjeet Bhatla

Franchise India

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Mumbai-based Yobee, which designs proprietary algorithms to uncover new and unique patterns in the stock market recently announced to have raised oversubscribed first round of ­­­funding and, will soon launch, mutual funds for traders. The fintech venture backed by Dheeraj Jain of Redcliffe LifeTech; Ruchirans Jaipuria of Jaipuria Group; Shashidhar Jayaraman of Ask Pravi; Chetan Mathur.

Yobee will be utilizing the funds to further build out its technology stack and create multiple distribution channels by partnering with market intermediaries like brokers and platforms.

"We are creating a new asset that combines the best of systematic investing and short-term trading. Indian Markets are witnessing a surge in activity and this asset comes with safety measures baked in to promote discipline while being extremely simple to use by both new and existing investors. It can accommodate a variety of trading styles and crucially, respect the norms thoughtfully set by regulators," said Salil Mathur, founder, Yobee.

Yobee is attempting to simplify systematic trading by offering professionally created trading baskets with the transactional ease of a mutual fund. These baskets are adjusted on a shorter period such as daily or weekly and follow the norms set out by SEBI and exchanges like NSE.

"Yobee's solution is catering to the continuously growing trading population in India. With the rise of traders, and the volume increase in this market, Salil and Chella have created a product which boasts accuracy, efficiency and caters to a large ask of the market, backed by a host of partnerships with prominent institutions in this sector," shared Sanil Sachar, founding partner, Huddle.

The company was founded in 2020, by Salil Mathur and C. Ram. Yobee is a Huddle Accelerated venture, also advised by Tejinderpal Miglani of Indiabulls Group.

"With ever greater participation in the capital markets, there is a need for sophisticated products for both the retail investor and trader. Yobee, through its unique trading baskets, has the potential to fill a gap for the discerning retail and HNI traders who now see systematic trading as an uncorrelated asset class," added Tejinderpal, founding chief technology officer, Indiabulls Group.

Post an oversubscribed first round of ­­­funding, Yobee will simplify the life of traders by offering features like single-click execution of baskets, live monitoring with the ability to easily exit at any time.

Related Topics

News and Trends

Scam 2023: Inside The World Startup Convention Disaster

To many, the speaker line up for the World Startup Convention (WSC) which had been scheduled for March 24-26, 2023 at Greater Noida may have seemed too good to be true.

Living

Why Embracing Your Unique Strengths and Talents Will Lead to Success

By identifying and developing one's strengths, aligning with passions, cultivating a growth mindset and positively impacting the world, individuals can unlock their full potential and create a life of abundance, passion and fulfillment.

Starting a Business

90% of Online Businesses Fail in Just 4 Months. You Can Avoid the Same Fate By Using These Strategies.

It's not catastrophizing when we think about potential failure; it's in fact a chance for any business to precisely see any outcome and prepare in advance.

Leadership

5 Insider Tips for Improving Your Confidence as a Public Speaker

Presenting publicly can be a nerve-wracking experience. Here are five key tips to help you boost your confidence.

News and Trends

Why Government May Ban Related Party Sales Of E-commerce, Food Delivery Startups

"E-commerce companies are permitted to merely operate a pure-play marketplace i.e. a bridge between the buyer and seller and not sell any goods, even their own products on their platforms," said Praveen Khandelwal, secretary general, CAlT

Leadership

5 Steps to Communicate Like a Boss

Here are five tips leaders can use to improve their communication skills.