AI-driven investment platform Univest has raised $1.5 million in a seed funding round led by US-based Trinity Media group, with participation from McKinsey, Reliance Industries, Tata AIA, Raheja Group, OYO, Envision Learning, and a few existing investors.
According to the startup, the raised capital would strengthen the company’s financial product distribution business and expand its talent.
Prior to this, Univest raised Rs 3.8 crore in September 2022 in a pre-seed round from angel investors, including Pritesh Talwar, Aakash Anand, Deep Bajaj and Mohit Bajaj, Saahil Nayar, Ajay Pawah, and Rahul Gambhir, among others.
Founded by Pranit Arora, Avneet Dhamija, and Vikash Agarwal, Univest leverages artificial intelligence to boost investment returns through exit signals that detect underperforming assets in a user’s portfolio. Based on the user’s investment style, the platform suggests converting those assets into profitable opportunities.
The platform claims to have gained the trust of over 300,000 investors with portfolios worth Rs 700 crore.
“I am excited about the platform’s use of cutting-edge AI technology to provide personalised recommendations to help investors exit bad investments and capitalise on high-yield opportunities. We see Univest as a valuable tool for maximising return on investment and avoiding missed opportunities for retail investors globally. I have high hopes for Univest’s future growth and am thrilled to be a part of their journey,” said Gurjot Batra, President and CEO of Trinity Media Group.
Source @Indianstartupnews
