[Funding alert] Digital wealth manager Kristal.AI raises $6M from Chiratae Ventures

Singapore-based digital wealth management platform, Kristal.AI, which is celebrating its fourth anniversary this year, has announced closing its latest Series A funding round of $6 million. 

The funding, which was finalised in December last year, is led by Chiratae Ventures (formerly IDG Ventures India) and Desai Family Office, which has interests ranging from fintech to boutique investments. Other investors include HNWI (high networth investors) names who are well known in the financial industry. 

TCM Sundaram, founding partner of Chiratae Ventures (formerly IDG Ventures India), said,

“Traditional banking is changing. One of the biggest differentiators in the future will be an advisor’s ability to deliver real-time, highly personalised investment experiences, and Kristal.AI is doing exactly that.” 

This round brings the total amount raised by Kristal.AI till date to $11 million. 

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The startup said it will use the Series A funds towards bolstering its technology backend, crafting more curated strategies (called Kristals), and expanding further into the APAC and Middle-East market. The company is also poised to launch a new offering for its Indian market very soon. 

Founded in 2016 by Indian entrepreneurs Asheesh Chanda and Vineeth Narasimhan, Kristal.AI offers holistic wealth management solutions to its clients. The company uses a patented genetic algorithm, along with the financial acumen of its in-house panel of experts, to recommend and create personalised portfolios for every investor. It has offices in Hong Kong, Singapore, and India. 

Kristal.AI’s CEO and Founder Asheesh Chanda said, 

“The new-gen investor needs strategies personalised for their individual risk profile, lifestyle, and expectations. Traditional banks offer such hyper-personalisation only to high-profile clients, but we are bringing it to the everyman. Kristal.AI’s strategies are made for the new-age global investor.”

Kristal.AI currently handles over $100 million in AUM, with 10,000 users on its platform.

Started in 2006, Chiratae Ventures’ portfolio companies in India include Agrostar, Bounce, Cure.fit, FirstCry, Lenskart, NestAway, PolicyBazaar and Uniphore among others.

(Edited by Megha Reddy)

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