Singapore’s Kristal.AI Secures US$6m, Eyes APAC Expansion

Kristal.AI, a Singapore-based investment technology (investech) startup, is expanding its technology to more countries in Asia after raising US$6 million in its Series A funding round.

The digital wealth management platform, which uses artificial intelligence to personalise investments, said the funding round was led by long-term partners Chiratae Ventures and influential names, such as Desai Family Office.

The funding round brings Kristal.AI total funds raised to date to US$11 million.

The startup said it will use the Series A funds towards bolstering its technology backend, crafting more curated strategies (called Kristals), and expanding further into the APAC and Middle-East market.

The company is also poised to launch a new offering for its Indian market very soon.

“The new-gen investor needs strategies personalized for their individual risk profile, lifestyle, and expectations. Traditional banks offer such hyper-personalization only to high-profile clients, but we are bringing it to the everyman. Kristal.AI’s strategies are made for the new-age global investor,” said Kristal.AI’s CEO and founder Asheesh Chanda.

Since officially launching in February 2016, Kristal.AI said it has experienced consistent growth and currently handles over US$100 million in AUM, with 10,000 users on its platform.

The company’s custom-crafted strategies have provided consistent returns to investors even in volatile markets, with both its Leveraged Bond Kristal and Singapore REITs Kristal achieving around 14 per cent returns historically.

“Traditional banking is changing. One of the biggest differentiators in the future will be an advisor’s ability to deliver real-time, highly personalized investment experiences and Kristal.AI is doing exactly that,” said TCM Sundaram, founding partner of Chiratae Ventures (formerly IDG Ventures India).

Founded in 2016 by Asheesh Chanda and Vineeth Narasimhan, Kristal.AI uses a patented genetic algorithm, along with the financial acumen of its in-house panel of experts, to recommend and create personalized portfolios for every investor.

The company is operational in Singapore with a CMS license issued by MAS, in Hong Kong under “Type 4” and “Type 9” licensing provided by SFC, and in India with a SEBI-approved license.