The fintech-educational hybrid startup will use the fresh capital to grow Stoxo, diversify across asset classes, and deepen its retail investor footprint across India.
StockGro Secures INR 150 Cr in Series B Led by Mukul Agrawal
Investment advisory startup StockGro has raised INR 150 Cr (~$16.7 Mn) in a Series B round, led by Mukul Agrawal, founder of Param Capital. The deal involves the issuance of convertible notes, structured as debt to be converted into equity at a later date.
This round adds to StockGro’s mission of helping India’s rapidly growing base of retail investors make smarter, more confident investment decisions.
Fuel for Expansion: AI, Asset Classes, and Geography
According to founder & CEO Ajay Lakhotia, the funds will be channelled toward:
- Geographical expansion, especially Tier II and III cities.
- Strengthening Stoxo, the AI research companion within the app.
- Adding new features and offerings across multiple asset classes.
- Enhancing the premium StockGro Plus subscription.
“We’re doubling down on making investors genuinely smarter and more confident,” said Lakhotia, underscoring the platform’s AI-first approach.
StockGro’s Unique Model: Fintech Meets Edtech
Founded in 2020, StockGro has carved a niche by combining financial education with social investing tools, appealing especially to first-time and young investors.
Key Features Include:
- Stoxo (AI Companion): Offers real-time market intelligence and lets users ask investment-related questions to receive contextual insights.
- Community-Driven Platform: Users can follow SEBI-registered analysts, discuss strategies, and crowdsource opinions from an active trading community.
- StockGro Plus (Freemium Tier): A premium subscription offering trade ideas, exclusive content, and deeper tools.
- Virtual Trading + Competitions: Initially focused on inter-college trading tournaments, enabling users to practice trading with virtual money and win real rewards — a strategy that led to viral adoption.
Scaling From Invite-Only to 35 Mn+ Users
StockGro’s initial launch was invite-only, targeting B-school campuses. The strategy paid off:
- 400 early adopters quickly turned into 1 Lakh users within the first year.
- Post its app store debut in early 2021, StockGro crossed 1 Mn users in a quarter.
- Today, it boasts a user base of over 35 Mn and collaborations with 1,500+ educational institutions.
This growth trajectory highlights the platform’s ability to blend education and trading tools into a compelling user experience.
Riding the Wave of Retail Participation
The funding comes amid a retail investment boom in India:
- Indian equities are hitting record highs.
- Demat accounts have surged 4X since early 2020, recently crossing 20 Cr nationwide.
- SIP inflows have hit historic levels, approaching INR 30,000 Cr monthly, reflecting over 20% YoY growth.
Platforms like StockGro are well-positioned to capture this momentum by educating and empowering retail investors with AI-led decision tools and social investing networks.
What’s Next for StockGro?
As investor appetite grows, StockGro is likely to:
- Launch AI-powered insights for mutual funds, bonds, and other retail products.
- Expand its freemium-to-premium funnel, capitalising on the trust built through education and virtual trading.
- Strengthen its institutional partnerships with colleges and investor communities.
With a rising demand for accessible and intelligent financial tools, StockGro’s blend of education, technology, and community is helping democratise investing in India.
