StockGro, the Bengaluru-based social investment platform startup, has raised $32 million in Series A round of funding from BITKRAFT Ventures, General Catalyst, and Itai Tsiddon, who is the co-founder of Lightricks, an Israel-based unicorn.

This round of funding also saw participation from its existing investors Roots Ventures and Creed Capital Asia. Besides, a syndicate of angel investors who are founders of Base 10 Capital, Junglee Games, Nazara Technologies, and Robinhood were part of this round.

According to a statement from StockGro, this round also included a commitment for 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 ramp up its hiring across all functions.

Founded in January 2020 by Ajay Lakhotia, StockGro has raised $40 million to date, which includes the latest round of funding. This startup provides a virtual platform to enable users to learn how to invest in stock markets.

Executive Opinion

“Having set up a solid foundation, our aim is to build a disciplined culture of trading in India’s and help the digital generation of today to invest in an informed and learned manner. The funding further reinforces the faith of our investors in our vision of bringing this transformation,” said Ajay.

A statement from BITKRAFT Ventures said, “Gamification and competitions not only engage new and aspiring investors, but also drive superior educational outcomes with a ‘play and learn’ product. StockGro has a unique opportunity to facilitate the transition of wealth into new asset classes, not just with stocks but also with its expansion into crypto and other assets.”