Savart Raises $1.5 Million In Pre-Series A FundingThe fund raised will help Savart double down on its marketing efforts, ramp up the product suite expansion and expand its global reach on its diverse network

Savart, a tech-based investment advisory, has raised around $1.5 million in pre-Series A funding round led by 9Unicorns and Venture Catalysts' Angel Fund. The funding round also saw participation from existing investor Beenext Asia Fund and several other angel investors. The fund raised would help Savart double down on its marketing efforts, ramp up the product suite expansion and expand its global reach on the diverse network of the 9Unicorns and VCATS family.

"We are pleased to receive the investment from 9Unicorns, VCATS, our existing investors and angels. We are glad to have the faith of investors who believe that Savart's journey to becoming India's largest investment advisor is just one step in our journey to be the world's largest and impactful asset management business," said Sankarsh Chanda, founder, Savart.

Savart is looking to take its advanced process automation and research technology (APART) global. The company is also betting on local languages and expects its platform to be present in five languages which includes English, Hindi, Telugu, and Gujarati over the next five months, and is looking to grow its assets under advisory (AUM) to $1 billion by the end of 2023 through its online and offline play this year, claimed by the company in a statement.

"We are extremely delighted to back this very young and dynamic entrepreneur trying to make investing easier and simplified with pioneering technology that precedes most robo-advisories in India," said 9unicorns.

Founded by Sankarsh Chanda, Savart helps users create long term out-performance with their mutual fund and stock investments using its proprietary research system, APART.