Fundly.ai, a fintech-pharma based supply chain startup that provides AI-powered investment management solutions, has announced that it has raised $3 million in a seed funding round. The funding round was led by Accel India and Multiply Ventures. The funding round saw participation from several other prominent investors.
Commenting on this, Amit Kumar Chawla, Founder, Fundly.ai said, “With this new funding, we are excited to expand our reach and explore untapped markets, bringing our vision of a more efficient and effective pharma supply chain to an even larger demographic.”
Investor from Accel, Sarthak Singh appreciated Fundly.ai’s founders for their knowledge and their capability to recognize the gaps and opportunities in the pharma space. He added, “Leveraging this experience, they have been able to identify the gaps and opportunities that exist in the pharma supply chain.”
A Mumbai based startup, Fundly.ai was founded in 2021 by Amit Kumar Chawla, Neha Ramcharanlal Virmani, & Veena Vinod Chawla. The aim was to make investment management more accessible and affordable for individual investors. The startup’s proprietary AI-powered platform enables users to build custom investment portfolios tailored to their individual goals. The platform also automatically adjusts those portfolios over time based on market conditions.
The $3 million seed funding round comes on the heels of Fundly.ai’s successful beta launch this year. The launch even attracted several investors who were keen on trying out the platform.
Till date, Fundly.ai had been bootstrapped since 2021. The startup has disbursed funds worth Rs 140 crore to 2,000 plus retailers and 30 plus distributors across nine cities. The company’s majority business comes from Tamil Nadu, with 30-35% from Maharashtra and the rest from Andhra Pradesh.
The startup’s recent funding announcement is a strong signal of confidence in the startup’s vision by making investment management more accessible to everyday investors. With the support of prominent investors and a growing customer base, the startup plans to use the funds to elevate its platform further, expand the customer base, and hire additional talent to join its growing team.
