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Savart, a technology-based investment advisory firm, has raised approximately $1.5 million in pre-Series A funding led by 9Unicorns and Venture Catalysts’ Angel Fund. Existing investor Beenext Asia Fund and several other angel investors also participated in the round. The funds raised will help Savart double down on its efforts to expand its product portfolio and expand its global presence across the diverse network of 9Unicorns and the VCATS family.
“We are delighted to have received investment from 9Unicorns, VCATS, our existing investors and angels. We are delighted to have the trust of investors who believe that Savart becoming India’s largest investment advisor is only the first step in our journey to becoming a world leader. The largest and most influential asset management business,” said Sankarsh Chanda, founder of Savart.
Savart is looking to take its Advanced Process Automation and Research Technology (APART) global. The company is also betting on local languages and expects its platform to be available in five languages within the next five months, including English, Hindi, Telugu and Gujarati, and hopes to bring its advisory assets (AUM) to $1 billion by the end of 2023 through its online and offline broadcasts this year, the company said in a statement.
9unicorns said: “We are very excited to support this very young and dynamic entrepreneur who is trying to make investing easier and simpler with a pioneering technology that is ahead of most robo-advice in India.”
Founded by Sankarsh Chanda, Savart uses its proprietary research system, APART, to help users create long-term outperformance through their mutual fund and equity investments.