Wright Research raises $1 million as seed capital from Orios Venture Partners
- The wealth-tech startup has previously raised a pre-seed round with BSE Institute Startup Incubator BRTSIF
Quant and AI-driven Investment Advisor Wright Research announced on Tuesday that it has raised 1 million dollars as seed capital from Orios Venture Partners. The company plans on using these funds for business expansion, bolstering the technology stack, and accelerating its foray into institutional fund management.
Wright Research is a Robo-advisory firm founded in 2019 by IIT Kanpur graduate Sonam Srivastava. The wealth-tech startup has previously raised a pre-seed round with BSE Institute Startup Incubator BRTSIF via the Government of India Nidhi Seed Support System.
“With the new funds, the startup will bolster its execution technology and client experience, push for building a wider community of subscribers, and also start its foray into Portfolio Management Services and Alternative Investing with the appropriate SEBI licenses,” the company said in a release.
Robo investing is a field of investing where the whole process, from client interaction to research and execution, is done using the power of technology and data.
Speaking on the announcement, Sonam Srivastava, Founder, Wright Research said, “The Indian market has myriad opportunities, which come and go dynamically, which is why well-researched and risk-managed quantitative investment strategies can really flourish here.”
“We are excited to partner with Sonam on her journey to provide a quant based hedge fund approach to retail investors and believe that this represents an extremely sophisticated strategy in investments thus far available only to high ticket size investors. We’re happy to support her in the democratisation of this strategy, which has become a powerful trend in finance due to distribution via digital ecosystems” said Rajeev Suri, Managing Partner at Orios Venture Partners.
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Business NewsNewsWright Research raises $1 million as seed capital from Orios Venture Partners
First Published:11 Oct 2022, 01:26 PM IST
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