AssetGro Fintech Ltd's investment and social trading platform, StockGro, is raising ₹110 crore (around $10.4 million) in a new tranche of its ongoing Series B funding round, according to corporate filings reported by Inc42. The capital top-up comes shortly after the startup pre-filed draft papers for an initial public offering with SEBI on September 26.
Existing Backers Lead Funding Extension
According to Ministry of Corporate Affairs documents accessed by Inc42, StockGro's board approved issuing 14,004 Series B Compulsorily Convertible Preference Shares at ₹78,668 per share, aggregating to ₹110.16 crore. Existing investor BITKRAFT Ventures leads the tranche with ₹60.1 crore, while Aditum Venture Capital Fund contributes ₹23.1 crore. Other participating investors include India SME Growth Fund, Systematix Fincorp, and angel investors such as actor Suniel Shetty, Vanaja Sundar Iyer, and Jignesh Vijay Shah. StockGro declined to comment on the funding.
Capital History and Deployment Plans
StockGro plans to use the new proceeds for operational growth, working capital requirements, and general corporate purposes. This tranche extends an ongoing Series B round that previously saw a ₹150 crore investment from Param Capital founder Mukul Agarwal in December, alongside a $13 million Series B1 round from BITKRAFT Ventures. To date, the company has raised approximately $110 million in total funding, counting Roots Ventures, General Catalyst, and Nazara co-founder Nitish Mittersain among its investors.
IPO Filing and Platform Overview
The funding extension coincides with parent company AssetGro Fintech pre-filing its draft prospectus via SEBI's confidential route. StockGro targets raising between ₹2,000 crore and ₹2,500 crore through the IPO, which is expected to include a fresh issue of approximately ₹800 crore alongside an offer for sale from existing shareholders. StockGro operates an investment and trading app combining stock research, social interactions, trade ideas from SEBI-registered analysts, and an AI-powered assistant named Stoxo. The startup claims to serve over 4.5 crore users.
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Source: Exclusive: Ahead Of IPO, StockGro Looks To Raise ₹110 Cr From Existing Backers
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