Jarvis, a Mumbai-based artificial intelligence (AI)-based investment platform, has raised an undisclosed amount in a funding round from Bestvantage Investments and Hem Securities Ltd.
As per the startup, the freshly raised funds will be used to develop the technology stack further and scale up its user base.
Jarvis Invest | Investing Powered By AI
Founded by Sumit Chanda, Jarvis is an AI-powered equity advisory service provider allowing investors to build equity portfolios with an integrated risk management system. The AI-based investment firm uses machine learning algorithms to analyse data and provide personalised investment strategies for its clients.
As per Sumit, the investment will enable the startup to improve the AI-powered investment platform and provide its clients with efficient investment solutions.
Several startups leverage cutting-edge AI technology to provide personalised recommendations to help investors exit bad investments and capitalise on high-yield opportunities.
In March 2023, another AI-driven investment platform, Univest, raised $1.5 million in a seed funding round led by the US-based Trinity Media group to strengthen the financial product distribution business and scale up the right talent.
Earlier in January, Gullak, a savings investment app founded by former executives of payment technology platform JusPay, raised $3 million (around Rs 24.4 crore) in a seed funding round co-led by Y Combinator and Better Capital for product development and expansion.
Not only in just investment segment, over the years, there has been a growing wave of AI-based startups, but the craze reached a level higher with news of Microsoft’s enormous $10 billion investment into OpenAI — the creator of ChatGPT.
Recently, Adept, an artificial intelligence (AI) startup, raised $350 million in a Series B funding round led by General Catalyst and Spark Capital.
In March 2023, Voiceoc, a conversational AI solution for hospitals, raised Rs 3 crore in funding from BioAngels, powered by IAN, to boost product development initiatives, scale its marketing strategies, and strengthen global footprints in the Middle-Eastern market.
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