Bangalore-based equity investment platform InvestorAi announced on Thursday that it has raised Rs 80 crore in Series A funding. The round was led by Ashish Kacholia, founder of Lucky Investment Managers, along with his associates.

The funds will be used to scale the company's operations and introduce new products to the market. Founded in 2018, InvestorAi utilizes advanced artificial intelligence to provide stock recommendations for investors, aiming to make investing more accessible and effective for retail investors.

"We are delighted to have such an incredibly experienced market expert like Ashish Kacholia as an investor and are grateful for his confidence in our vision, our model, and our team," said Akshaya Bhargava, Chairman and Co-founder of InvestorAi.

Bruce Keith, Co-founder and CEO of InvestorAi, highlighted the potential for growth in the Indian market, noting that the retail investor base in India is currently around 150 million and growing by 3 million every month. He also emphasized the untapped market potential, with only 7% of household income currently invested in direct equities.

"Our platform, InvestorAi, is the only one in the Indian market that is multi-product, multi-broker, and multi-manager, and also generates its own market-beating content," Keith added.

With this new funding, InvestorAi aims to lead the way in leveraging AI technology to provide innovative investment solutions for the growing Indian retail investor base.