StockGro Raises $13 Million for Expansion

StockGro, a social investment and stock market advisory platform, has secured $13 million from BITKRAFT Ventures in its Series B1 funding round. This new investment follows a previous $17 million round from Mukul Agarwal’s Param Capital, as reported exclusively by Startup Superb.

Funding Utilisation and Company Vision

The freshly acquired capital will be used for geographic expansion, enhancing its advisory services, and bolstering its research capabilities. StockGro aims to deepen its engagement across multiple asset classes, as mentioned in a press release from the company.

About StockGro

Founded in 2020 by former venture capitalist Ajay Lakhotia, StockGro is developing a comprehensive ecosystem for more intelligent trading and investment through expert insights and AI-driven research, facilitated by its community-focused platform.

Growth in Demat Accounts

When StockGro commenced operations in 2020, India had approximately 4 crore demat accounts. By 2025, this number is anticipated to soar to over 20 crore accounts, reflecting a near fivefold increase and a significant rise in household involvement in capital markets.

Financial Overview

To date, StockGro has raised around $90 million through a combination of debt and equity, according to various data sources. Key investors include SBI Ventures, Root Ventures, and General Catalyst. StockGro has not yet submitted its financial statements for FY25. However, for FY24, the company’s operational revenue dropped by 34%, amounting to Rs 86.5 crore, down from Rs 131 crore in FY23. Simultaneously, its losses escalated by 84% to Rs 101 crore during this same interval.