Kristal.AI, a Singaporean fintech company that has built an artificial intelligence-driven asset management platform, announced today it has raised a US$1.85 million seed round led by IDG Ventures India.
Other participants in the round were Shailesh Rao, an Angel Investor and employee at McKinsey, and Amit Gupta, the Founding Partner of Newquest Capital.
The money will be used to improve Kristal.AI’s technology, help make machine-learning integration more efficient and begin the process of global expansion.
Currently, Kristal.AI is operating in Hong Kong, India and Singapore.
Essentially what Kristal is doing is using artificial intelligence to create investment strategies and is targeting wealth funds, high-net-worth individuals and family offices.
However, robo-advisory is probably the wrong word because it is less about day-to-day trading and more about strategy via compiling a specific set of ETFs, bonds, options, futures etc. While imperfect, a better metaphor would be that Kristal.AI has created a brokerage account managed by artificial intelligence.
Each account is called a Kristal and it is based around a specific theme (high-risk, low-risk etc.) and is tailored to meet the client’s financial needs. They are then constantly tested, ranked and rated against one another.
Currently, there are 150 Kristals on the platform. The product video at the end of this article does a good job of visualising how it works.
“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, the Co-founder and CTO of Kristal.AI.