# Pickright Technologies Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pickright-technologies-private

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.pickright.in
- Total disclosed funding: $0.5M
- Latest round: Seed (May 24, 2021)
- Investors on record: 3

## About

Based in India, Pickright Technologies specializes in providing automated investment solutions through pre-assembled portfolios called Investpacks, designed to streamline the investment process for individual investors.Pickright Technologies, founded in 2019 and headquartered in Bangalore, India, focuses on simplifying investment for individual users. The founders are Archana Elapavuluri, Namandeep Bhatia, and Siddharth Panjwani, with Archana Elapavuluri serving as the CEO. In March 2023, the company raised INR 17.9 mn during its Seed funding round, led by JITO Incubation & Innovation Foundation and included Mumbai Angels, bringing the total amount raised to INR 17.9 mn and giving the company a current valuation of INR 174.191 mn. The company has engaged in three investment deals to date, with the most recent being on March 21, 2023.Pickright's primary offering is its Investpacks, which are pre-assembled portfolios containing multiple financial assets, designed to simplify the investment process for users. These Investpacks are continuously managed and monitored by SEBI-registered experts, providing a hands-off investment experience for clients. The platform caters to individual investors, particularly those who may lack the time or expertise to conduct extensive stock research. By offering automated investment solutions and personalized financial planning, Pickright aims to enhance user experience and accessibility in the stock market. The services are available primarily in the Indian market, where the company targets a diverse range of retail investors seeking to diversify their portfolios without the burden of complex investment strategies.In the most recent financial year, 2023, Pickright reported a revenue of INR 1,521.2 mn, while the EBITDA for the same period was -INR 131,147.Pickright Technologies aims to enhance its user interface and user experience capabilities following the recent acquisition by Edelweiss Global Wealth Management Limited. The acquisition, finalized in March 2023, provides strategic support for future product development and expansion efforts. The company is expected to introduce new products and improve its offerings. Plans for market expansion are anticipated but specific regions and timelines for these initiatives have not been disclosed.

## Funding rounds

- Seed, May 24, 2021, $0.3M — Mumbai Angels, JITO Incubation & Innovation Foundation
- Seed, Aug 20, 2020, $0.3M — 100X.VC

## Investors

- 100X.VC (https://capitalatlas.ai/funds/100x-vc) — Seed
- Mumbai Angels (https://capitalatlas.ai/funds/mumbai-angels) — Seed
- JITO Incubation & Innovation Foundation — Seed