Smartkarma, a Singapore-based provider of independent investment research, closed a Series B round of financing.
The round, which was led by Sequoia India, brings the company’s total funding to US $21m, with participation from existing investors Wavemaker Partners, Jungle Ventures and Spring Seeds.
The company intends to use the funds to consolidate its position in the Asia Pacific region by strengthening its network of independent insight providers, augmenting the tools and features on the platform, as well as offering further services beyond the published content currently available, and grow internationally. In September, Smartkarma launched a UK office, which will serve as a hub to build out its independent research analyst community in Europe and support its buy-side investor clientele.
Founded in Singapore in 2014 by Raghav Kapoor, Jon Foster and Lee Mitchell, Smartkarma provides a cloud based platform that gives access to a wide range of independent research from over 120 investment insight firms, comprised of over 400 contributing analysts. Its community has written on more than 2,400 companies across 15 Asian markets, offering coverage in areas under covered by the traditional research providers, including frontier markets, small and mid-caps and in-depth, event driven IPO analysis.
Over 400 independent analysts covering more than 2,400 companies across 15 Asian markets, now contribute to its cloud-based platform. Over 150 institutional asset managers have subscribed, including sovereign wealth funds, global asset managers, hedge funds, boutiques and family offices, worldwide.