Upstox joined the Unicorn Club on Nov 25, 2021 after raising multiple funding rounds, reaching a valuation of ₹23,800 crore. Headquartered in Mumbai, Maharashtra, India, Upstox operates a technology driven trading platform offering low cost brokerage and market access for retail investors.
The platform enables equity, commodity, and currency trading with real time data, advanced charting tools, and efficient order execution for beginners and experienced traders.
Keep reading to learn how Upstox built a unicorn scale investment technology platform in India.
What Is Upstox and What Does It Do?
Founded in 2009, Upstox is an investment technology company providing a low cost online trading platform. The platform allows users to trade equities, commodities, and currencies with commission free delivery trades and competitive pricing for active traders.
Upstox integrates real time market data, advanced analytics, and streamlined order execution. Its revenue comes from brokerage on non free trades, margin funding services, and value added financial products designed to improve market accessibility.
How Much Funding Has Upstox Raised?
1. Series A Round
- Amount Raised: $4 million
- Date: 2016
- Lead Investors: Kalaari Capital
- Purpose: Early stage growth, platform development, and market reach
2. Series B Round
- Amount Raised: $25 million
- Date: September 20, 2019
- Lead Investors: Tiger Global Management
- Purpose: Scale operations, grow customer base, and strengthen technology infrastructure
3. Series C Round
- Amount Raised: $108 million
- Date: November 25, 2021
- Lead Investors: Tiger Global Management
- Purpose: Accelerate growth, improve product offerings, and support expansion as Upstox joined the unicorn club
Total Funding Raised: $137 million Latest Funding Date: November 25, 2021 Latest Known Valuation: ₹23,800 crore Employee Count: 582 as of May 31, 2025
Key Investors
- Tiger Global Management
- Details: Global investment firm backing high growth technology companies
- Focus Areas: Internet platforms, fintech, SaaS, and consumer technology
- Stride Ventures
- Details: Venture debt firm supporting fast growing startups
- Focus Areas: Growth financing, structured debt, and late stage startups
Where Is Upstox’s Headquarters?
Upstox is headquartered in Mumbai, Maharashtra, India, serving as its central hub for product development, engineering, and business operations.
What’s Next for Upstox?
Upstox plans to expand its investment offerings, enhance platform performance, and grow its retail investor base across India. The company is focused on improving trading experiences, launching new financial products, and strengthening its technology stack to support long term growth in capital markets.
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