Exclusive: Ahead Of IPO, StockGro Looks To Raise ₹110 Cr From Existing Backers
Invest tech startup StockGro, which pre-filed its IPO papers last week, is looking to raise ₹110 Cr (around $10.4 Mn)…
StockGro, a venture-backed tech startup, is preparing to raise ₹110 Cr as part of its Series B funding round ahead of its IPO. Existing investor BITKRAFT Ventures is leading the fresh round, which also includes participation from Aditum Venture Capital Fund, India SME Growth Fund, and actor Suniel Shetty. The startup will use the fresh capital to support growth, meet working capital needs and other corporate purposes.
StockGro's board has approved issuing 14,004 Series B CCPS at ₹78,668 per share, amounting to ₹110.16 Cr. BITKRAFT has committed ₹60.1 Cr, while Aditum Venture Capital Fund is contributing ₹23.1 Cr. The remaining funds will be provided by India SME Growth Fund, Systematix Fincorp, and angel investors such as Vanaja Sundar Iyer, Jignesh Vijay Shah, and Suniel Shetty.
The additional funding comes in the lead-up to StockGro's public market debut, with its parent company AssetGro Fintech Ltd filing its draft IPO papers with SEBI. The startup is seeking to raise up to ₹2,000 Cr-₹2,500 Cr through the IPO, which could include a fresh issuance of around ₹800 Cr and an offer for sale (OFS) by current shareholders.
StockGro's platform combines stock-market research with a social layer, enabling users to track stocks, study portfolios, follow other investors, and interact with market experts. The app also offers research and trade ideas from SEBI-registered analysts and tools for in-depth analysis, powered by an AI-driven research assistant called Stoxo.
The startup has raised approximately $110 Mn to date and boasts over 4.5 Cr active users, with notable backers including Roots Ventures, General Catalyst, and Nitish Mittersain, co-founder of Nazara.
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