Case Study: Upside – Personal investment platform

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A portfolio management service company – Upside, founded by Nikhil Hooda, Kanika Agarrwal, and Atanuu Agarrwal in 2017. The striking thing about the company that they rely upon artificial intelligence and machine learning for investment in the stock market. One of the extraordinary models to work upon, the company was in beta mode for a year and then officially launched in 2019.

The Upside is set up on the belief that technology can make a better investment decision for investment than the human brain. Machines remain unaffected, unemotional, and Unbiased by the market’s ups and downs. No intervention of human emotion in the intellectual capability of technology. The company designed its algorithms using artificial intelligence and machine learning which can generate 15-20 stocks for its customer. It’s embedded in their technology to not invest more than 10% of the customer’s funds in one stock or not more than 35% in one industry. Although the company makes the best use of Human resources and regularly allows AI analysts to do manual checks on corporate governance to ensure that the listed companies are reporting their financials accurately.

This year Upside has raised $1.2 million in seed funding by early-stage investor Endiya Partners. In this round Quantum Advisors Ajay Nanavati and Myelin Foundry’s Gopichand Katragadda, market investor Vijay Kedia also participated. The company claims to have delivered about 71% cumulative returns to the investors registered on the platform since the launch of the platform. Apart from this, assets under management (AUM) had grown 10 times to over 55 crores.

Kanika, one of the founders has over 11 years of experience in financing and investing, having worked with companies including Mayfield India, Credit Suisse, and EY. At the age of 29, Kanika decided to work upon building something of her own, and that’s how Upside AI was born. She realized that amount of experience and knowledge gained in these years can bring out the best of her.

Nikhil had completed his BTech degree and a Ph.D. in Computer Science from IIT Bombay. He had worked upon major code for Upside.

Atanuu had completed his BTech and MTech in Materials Science from IIT Bombay has proper experience in both public and private investing both in India and the US. In Upside he is managing the product development part.

Atanuu is Kanika’s husband, along with being her co-founder. Three of them know each other from past professional life. Atanuu and Nikhil were batch mates, they met Kanika while working at Credit Suisse together. 

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