A neo-broking application that enables investors to overcome learning curves, eliminate human limitations and make rational decisions based on data has come into being, courtesy of Algorithma Digitech. The company was formed under Kerala Startup Mission (KSUM), which is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.
Smarbasket.ai, which has the potential to generate exponential returns on investments, was released by Google former Head (Play Store) Kanan Rai, an ex-director at Razorpay.
Smarbasket.ai: Empowering investors
Accessible on both Play Store and App Store, Smartbasket.ai empowers investors to lead financially independent lifestyles with minimum effort. The app will enable individuals to participate in investment opportunities and benefit from them, according to top Algorithma officials and dignitaries at the launch ceremony.
Rai said Smartbasket.ai could prove to be a game-changer, given its potential to grow rapidly and “even go public through an IPO” in the coming years. “As a generative AI neobroking platform, the app assists retail investors in the stock-market by using artificial intelligence to automate and optimize their investment strategies,” she pointed out.
Bangalore-headquartered Algorithma Digitech was founded in September last year by serial entrepreneurs Nikhil Dharman and T.R. Shamsudheen. Facilitating financial empowerment, the startup aims to revolutionize investment and democratize access to wealth creation. It offers opportunities to retail investors, giving them the power to embrace AI and unlock financial freedom.
A high-profile launch
Present at the Smartbasket.ai launch event were Hedge Equities CEO and Managing Director Alex K. Babu, angel investors Jose Pattara, Navas Meeran and K.R. Balan besides Dr. A. Anand Kumar and Geetha Nandakumar of Amrita Institute of Medical Sciences and Hospital. Prominent figures from the film industry, such as Mollywood actor Joju George, screenwriter Sanjay, film director Manu Asokan and music director Renjin Raj, also attended the function.
Dharman earlier co-founded Agrima, which went on to be acquired by BigBasket. His brainchild, Recipebook app, gained immense popularity, amassing 4.5 million users and earning the prestigious Editor’s Choice badge on the Google Play Store. Shamsudheen, who is an educationist and technocrat, has produced three successful movies and established two engineering colleges.