The R&D Lab of Samco Securities have been launched at its OMR-IT Expressway in Chennai. The lab which had inculcated 20 crores of investment is a one-of-its-kind investment by any fintech company in Chennai.
With an area of more than 10000 square feet space for 200 employees, the research center is focused on automating the investment process through development of machine learning and artificial intelligence based products for HNIs and institutional investors.
Mr. Jimeet Modi Founder & CEO, SAMCO Securities said, “The R&D centre in Chennai is a strategic step towards accelerating our R&D initiatives to create more innovative products and services.”
“It’s in line with our continuous endeavor of closely working with our customers to co-create new solutions and frameworks that will create positive differentiation in the marketplace,” he added.
In its Series B funding round, Samco raised an amount of USD 7.5 million (Rs 49 crore) from existing promoters, and Bay Capital Investment Partners, London.