WRIGHT RESEARCH- Grow your wealth with algorithm-driven research

WRIGHT RESEARCH: Grow your wealth with algorithm-driven research

Robo investing is an investment method where the whole process, from client interaction to research and execution, is done using the power of technology and data. Put simply, a robo-advisor is a type of automated financial advisor that provides algorithm-driven wealth management services with little to no human intervention. It goes without saying that the adoption of robo investing is highly linked to the fintech industry’s growth. “Only when people start trusting their phone to make payments will they trust it to make investments,” says Sonam Srivastava, founder and CEO, Wright Research, a Mumbai-based Sebi registered investment advisory firm that uses deep-tech, AI and ML modules to invest using Quant research.

Srivastava says this pattern has been seen globally. Platforms like Wealthfront and Betterment have flourished in the US as fintech got more assertive. Similarly, startups in China like BangNiTou have been taking over from traditional brokerages as fintech expands in that country. “India, which has adopted fintech only in the last five years, is a ripe playing ground for robo advisory,” stresses Srivastava, an IIT Kanpur graduate who founded Wright Research in 2019. It offers services in equity advisory, thematic portfolio subscription, mutual fund advisory, alternative advisory, etc.

“The Indian market has myriad opportunities, which come and go dynamically, which is why well-researched and risk-managed quantitative investment strategies can flourish here. We have seen the power of the rising retail investor in India who increasingly trusts technology,” says Srivastava. Recently, the wealth-tech startup raised $1 million as seed capital from Orios Venture Partners. The company plans on using these funds for business expansion, bolstering the technology stack, and accelerating its foray into institutional fund management. It boasts of 40,000-plus lifetime subscribers and close to `200 crore in assets under advisory.

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Wright Research has previously raised a pre-seed round with BSE Institute Startup Incubator BRTSIF via the government’s Nidhi Seed Support System. It has also added accredited HNI investors Varun Jalan ex-Mckinsey and Karan Maheshwari of Maheshwari Investments as advisors for the institutional product.

With the new funds, the startup will bolster its execution technology and client experience, push for building a wider community of subscribers, and also start its debut into portfolio management services and alternative investing with the appropriate SEBI licenses. Recently, the company launched its app. The new product has an end-to-end client experience, from onboarding to execution.

Number crunch

Company uses deep-tech, AI and ML modules to invest using Quant research

Boasts of 40,000-plus lifetime subscribers; close to Rs 200 crore in assets under advisory

Raises $1 million as seed capital from Orios Venture Partners

Funds to be utilised for business expansion, bolstering the tech stack