Corpus Labs in talks with Stellaris for pre-seed funding
A wealthtech startup founded by former Peak XV Partners analyst Saksham Mittal is in talks to raise pre-seed funding from Stellaris Venture Partners, as reported by Inc42. The size and terms of the potential round were not disclosed. Corpus Labs has stated on its website that it has raised $4.2 Mn in pre-seed funding, though it did not name the participating investors.
Corpus Labs, cofounded by Saksham Mittal, former Groww executive Ayush Gupta and former JPMorgan executive Vineet Shukla, offers a read-only financial analysis platform that reviews users’ mutual fund portfolios. Users can upload consolidated account statements from CAMS or KFintech, or connect financial data through the account aggregator framework.
The platform analyses this data to identify the cost difference between regular and direct mutual fund plans, overlap among funds, idle bank balances, realised and unrealised gains, and deviations from users’ asset allocation. It does not execute investments or other transactions, take custody of users’ money, or recommend specific funds for purchase. The startup says it earns nothing from asset management companies, brokers or insurers.
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Corpus Labs is entering a crowded wealthtech market, where startups are building digital products for retail investors, mutual fund distributors, investment advisers and affluent customers. These platforms offer services ranging from portfolio analysis and investment recommendations to wealth distribution and portfolio management.
The wealthtech industry is projected to become a more than $95 Bn opportunity by FY30. Wealthtech startup Centricity raised ₹280 Cr in a Series A funding round led by SMBC Asia Rising Fund, comprising ₹230 Cr in equity and ₹50 Cr in venture debt. Veriqus Group raised ₹387 Cr to build an integrated wealth and asset management platform with technology and AI at its core.
Mittal left Peak XV’s investment team in July after working primarily with its seed-stage accelerator programme, Surge. An IIT Kanpur alumnus, he previously worked with the investment team at Avaana Capital and at Flipkart and Shop101. Queries sent to Mittal and Stellaris did not elicit a response until the publication of the story.
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