Kristal.AI, an Artificial Intelligence powered digital asset management platform, has reportedly raised seed funding of $1.85 million (approximately Rs 12 crore). The funding round was led by IDG Ventures India and saw participation from well-known angel investors including Shailesh Rao, Senior Advisor-TPG McKinsey, and Amit Gupta, Founding Partner of Newquest Capital.

The startup was founded by Asheesh Chanda and Vineeth Narasimhan in 2016 and is headquartered in Singapore. It also has offices in Hong Kong, Mumbai, and Bengaluru. The platform uses technologies like artificial intelligence to create curated portfolios for its clients. The portfolios (called Kristals, with each being based on a theme) are created by financial experts and comprise of exchange traded assets like stocks, bonds, options, futures and currencies etc. The startup has a vast clientele including leading companies like Citibank, JP Morgan Chase, Google, Nomura and Standard Chartered.

“2017 has marked the first baby steps Kristal.AI has taken towards delivering diversified investment solutions for our clients with clarity, consistency and complete transparency. Our clients have played a pivotal role in helping us unshackle the world of sophisticated investments for everyone. We are excited to have the support of IDG Ventures India and the trust that we enjoy from our clients, and are poised for an exponential growth over the next couple of years,” said Asheesh Chanda, Founder and CEO of Kristal AI, as per a statement released by the company.

Currently the startup’s platform gives access to financial assets from North America, Europe and Asia-Pacific including India, China and Japan. The startup aims to use the funds raised to bolster its technology as well as accelerate the integration of machine learning capabilities in order to provide more efficient financial advisory services to its clients. Furthermore, the company is looking to expand its reach into South-East Asia, Middle East, and US markets.

“In the past two years, we have brought a simple idea into a live platform providing value to our customers. Our vision is to enable our customers to have a seamless, fully self-serviced and intelligent investment experience via our platform”, said Vineeth Narasimhan, Co-founder and CTO of Kristal.AI.