StockGro closes $32 Mn Series A round

Social investment platform StockGro has concluded a $32 million in its Series A round led by BITKRAFT Ventures, General Catalyst, and Itai Tsiddon. Existing backers such as Roots Ventures, Creed Capital Asia also participated in the round.

According to StockGro, the fresh round include secondary financing for its early backers which would lead to multi-fold returns on their previous investments.

StockGro plans to use the funding to tap into more markets, introduce new product offerings and aggressively ramp up its hiring across all functions, said the company in a press release.

Founded in January 2020 by Ajay Lakhotia, StockGro enables users to learn about and participate in stock markets. According to the company, it has doubled its user base in the last quarter from 5 million in October to 10 million as of January 2022. 

The Bengaluru-based company has raised about $40 million to date.