Hyderabad-based fintech Kalpi has raised ₹3.75 crore in seed funding from Zerodha's Rainmatter Capital to democratise quant investing in India.
The platform offers two products, Kalpi.ai for retail investors and KalpiQuant.com for institutions.
Founded by BITS Pilani alumnus and former quant researcher Ashwar Gupta, Kalpi lets users build, backtest and execute rule-based investment strategies without writing code.
Kalpi Raises ₹3.75 Cr to Bring Quant Investing Tools to Everyday Investors
Kalpi is a rule-based investment platform that lets users build, test, and execute data-driven investment strategies across equities, ETFs and mutual funds, without writing code or relying on tips
Kalpi Founder Ashwar Gupta
Summary
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Hyderabad-based fintech startup Kalpi has raised ₹3.75 crore in a seed round from Rainmatter Capital, the investment arm of stock brokerage Zerodha.
The company plans to use the funds to expand its team, acquire better datasets, improve its product and grow its user base across retail and institutional segments.
What Kalpi Does
Kalpi is a rule-based investment platform that lets users build, test, and execute data-driven investment strategies across equities, ETFs and mutual funds, without writing code or relying on tips.
The platform offers tools for portfolio construction, backtesting, rebalancing, and one-click trade execution through broker integrations. Users can also generate portfolio health reports that break down risk, diversification and concentration in plain language.
The startup runs two separate products. Kalpi.ai is aimed at retail investors, allowing them to build rule-based stock baskets and invest directly through their broker. KalpiQuant.com is built for professionals, portfolio management services, alternative investment funds, registered investment advisers, brokers and family offices and offers over 300 pre-computed investment factors, an institutional backtesting engine and portfolio optimisation tools. The company says building similar infrastructure independently can cost institutions between ₹1 crore and ₹2 crore.
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Kalpi was founded in 2025 by Ashwar Gupta, an engineering graduate from BITS Pilani and a former quantitative researcher. His pitch is straightforward: tools that were once exclusive to hedge funds and large institutions should be available to any serious investor.
"Investing should be driven by data, discipline, and transparency, not emotions, tips, or speculation," Gupta said.
Why Rainmatter Backed It
Faisal Mohammed, Vice President of Trading Operations at Zerodha, said good systematic investing tools in India have largely remained locked inside large institutions.
"Kalpi and Ashwar are building something practical for investors who want to move past tips and hunches to a rule-based approach," he said.
Rainmatter Capital, which backs fintech and capital markets startups, has previously invested in companies such as Smallcase and Streak.