AI investment advisory firm Wright Research raises seed funding from Orios Venture Partners

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Wright Research, which is a quant and AI investment advisory headquartered in Mumbai, has raised $1 million as seed capital from Orios Venture Partners.

The funds will be used for business expansion, technological upgrade and speeding up entry into institutional fund management, according to the company’s press note.

The early-stage VC’s Managing Partner Rajeev Suri said that they are happy to partner with the robo-advisory firm in making a quant-based hedge-fund approach available to retail clients.

“We have seen the power of the rising retail investor in India who increasingly trusts technology. We are committed to providing our investors with an enhanced investment experience powered by quantitative research and a dedicated and transparent approach,” said Sonam Srivastava, founder of Wright Research. Srivastava is a chemical engineering graduate of IIT Kanpur, who has worked for 10 years in quantitative investment and trading at institutional investment firms such as HSBC, Edelweiss, and Qplum. She founded the robo-advisory firm in 2019.

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Wright Research previously raised a pre-seed round from BIL-Ryerson Technology Startup Incubator Foundation (BRTSIF) through the government’s Nidhi Seed Support System. BRTSIF is a joint venture of BSE Institute, Toronto’s Ryerson University, and Vancouver-based Simon Fraser University.

Wright Research today has over 40,000 lifetime subscribers and close to Rs 200 crore in assets under advisory. The company offers services in equity advisory, thematic portfolio subscription, mutual fund advisory, alternative advisory and existing portfolio review service. It also runs a futures-based statistical arbitrage strategies for HNI clients, and algorithmic models for trading futures and options.