[Funding alert] Savart raises $1.5 mn from 9Unicorns, Venture Catalysts, others

A pre-Series A funding round headed by 9Unicorns and Venture Catalysts’ Angel Fund raises about $1.5 million for the tech-based investment advisory Savart. Existing investor Beenext Asia Fund and numerous other angel investors were among the additional investors that joined the ride.

Following a psychometric research, the Hyderabad-based start-up seeks to make stock and mutual fund investing simpler.

The additional funding would enable Savart to intensify its marketing initiatives, accelerate the growth of its product line, and broaden its global reach through the diversified network of the 9Unicorns and VCATS family.

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On the funding, Sankarsh said, “We are pleased to receive the investment from 9Unicorns, VCATS, our existing investors and angels. We are glad to have the faith of investors who believe that Savart’s journey to becoming India’s largest investment advisor is just one step in our journey to be the world’s largest & impactful asset management business.”

This wealth-tech company, founded in by Sankarsh Chanda at the age of 18 after quitting college, uses its own research engine, APART (Advanced Process Automation & Research Technology), to help users produce long-term out-performance with their managed fund and stock investments.

“We are extremely delighted to back this very young and dynamic entrepreneur trying to make investing easier and simplified with pioneering technology that precedes most robo-advisories in India,” said 9unicorns.

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About Savart

Savart is a wealth management platform built upon a strong fundamental investment philosophy and is most suitable for long-term investors. What started as a small idea to help individuals make good investment decisions, is now growing into a platform that gives wings to dreams & power to passion, one step at a time.