Kalpi raises ₹3.75 crore seed

Hyderabad-based fintech startup Kalpi said on May 19 that it had raised ₹3.75 crore in seed funding from Rainmatter Capital, the investment arm backed by Zerodha founders Nithin and Nikhil Kamath. The company said it will use the money to expand a no-code, rule-based investing platform aimed at retail and institutional users in India. The raise places Kalpi in a part of the fintech market focused on turning quantitative investing tools into software that non-programmers can use. Outlook Business and other startup publications reported the round on May 19. ### What exactly does Kalpi build? Kalpi said its platform allows users to build, backtest, automate and execute quantitative investment strategies across equities, ETFs and mutual funds. The company describes the product as rule-based and systematic, with no-code tools intended to lower the technical barriers that usually come with quant investing. (outlookbusiness.com) Analytics Insight reported that Kalpi is also positioning the product around AI-powered investing tools. Indian Startup News said the startup offers products including Kalpi.ai and KalpiQuant, with functions such as portfolio optimization, factor analysis, risk attribution and strategy backtesting. (outlookbusiness.com) ### Who founded the company, and when? Ashwar Gupta founded Kalpi in 2025, according to Analytics Insight, Entrackr and other startup trackers that covered the round. Dailyhunt’s roundup described Gupta as a former quant researcher and a BITS Pilani graduate. Hyderabad is the company’s base, and several reports tied the startup to a broader cluster of fintech companies being built in the city. (analyticsinsight.net) Analytics Insight said the increase in retail participation in India’s stock market has helped create demand for tools that rely more heavily on data and rules than discretionary decision-making. ### Why is Rainmatter the notable name in this round? Rainmatter Capital was the sole named investor in the seed round. Outlook Business said the funding came from Zerodha’s Rainmatter Capital, giving Kalpi backing from one of the best-known names in India’s retail investing ecosystem. Rainmatter’s involvement matters because Kalpi is building software for investors rather than a consumer payments or lending product. (analyticsinsight.net) The fit is direct: Zerodha and Rainmatter have backed companies tied to investing, market infrastructure and financial wellness, and Kalpi’s platform is aimed at strategy creation and execution rather than brokerage alone. That characterization is based on Kalpi’s product description and Rainmatter’s role as the investor named in the round. (outlookbusiness.com) ### What will the ₹3.75 crore be used for? Entrackr reported that the fresh capital will be used to strengthen the team, acquire datasets, improve product capabilities and expand distribution across retail and institutional segments. StartupWired and other outlets gave the same breakdown, pointing to a product roadmap built around hiring, data access and broader go-to-market reach. (outlookbusiness.com) Analytics Insight said the funding would help Kalpi grow its product and make investing tools easier for more people in India. That report also framed the raise as part of a wider push to build AI-assisted investing products for a larger domestic user base. ### How does this fit the wider early-stage funding market? (entrackr.com) Crowdfund Insider reported this month, citing Carta data, that about 3,000 U.S. companies secured pre-seed capital in the first quarter of 2026. The report said the figures suggested early-stage funding conditions were showing signs of stability rather than collapse. (analyticsinsight.net) In India, Kalpi’s round is a smaller seed deal, but it fits the same pattern of capital still reaching narrowly defined software products with a clear use case. StartupTalky’s May 19 funding roundup listed Kalpi among the day’s early-stage raises, alongside other seed and pre-Series A deals. May 19 is the operative date for the announcement, and Kalpi’s next disclosed steps are product expansion, team growth and wider distribution across retail and institutional markets in India. (outlookbusiness.com) Rainmatter Capital is the named backer to watch as the company moves from seed financing to execution. (startuptalky.com)