India: Investment platform Kristal.AI raises $1.85m round led by IDG Ventures

Kristal.AI, an investment platform that allows access to asset classes from global markets, on Tuesday said it raised $1.85 million in a round led by IDG Ventures India.

Investors Shailesh Rao, a senior advisor at TPG Global and McKinsey & Co, and Newquest Capital founding partner Amit Gupta took part in the round.

Kristal.AI is a digital asset manager for retail and institutional customers. It was launched in January 2016 by Asheesh Chanda and Vineeth Narasimhan.

The start-up is headquartered in Singapore with offices in Hong Kong, Mumbai and Bengaluru.

“In the past two years, we have brought a simple idea into a live platform providing value to our customers. Our vision is to enable our customers to have a seamless, fully self-serviced and intelligent investment experience via our platform,” said Narasimhan, Kristal.AI’s chief technology officer.

The platform uses new technologies like artificial intelligence to create curated portfolios for clients comprising exchange-traded assets like stocks, bonds, options, futures and currencies, among others.

For now, it gives access to financial assets from North America, Europe and Asia-pacific including India, Japan, and China, and caters to customers in Singapore, Hong Kong and India markets.

Clients include Bank of Singapore, JP Morgan Chase, Google, Citi Bank, according to Kristal.AI website.

With the funds raised, the company plans to double down on technology and investments towards integrating machine learning and financial advisory services. It is also looking to extend the consumer platform to South-East Asia, Middle-East and the US.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.