The Outpost is a comprehensive collection of curated artificial intelligence software tools that cater to the needs of small business owners, bloggers, artists, musicians, entrepreneurs, marketers, writers, and researchers.
© 2025 TheOutpost.AI All rights reserved
Curated by THEOUTPOST
On Wed, 18 Dec, 8:02 AM UTC
2 Sources
[1]
Mili Bags $2 Mn To Offer AI Assistant For Wealth Advisors
Founded this year, Mili claims that its meeting documentation software helps wealth management firms automate their advisory workflows via its real-time AI assistance Wealthtech-focused AI SaaS startup Mili has raised $2 Mn (around INR 16.9 Cr) as part of its seed funding round co-led by Chiratae Ventures and BoldCap. The round also saw participation from investors such as Sparrow Capital, SFMG Wealth Advisors, Quent Capital's Gregg Fisher and Better Capital. The startup Plans to use the fresh capital to enhance and accelerate product development, scale up partnerships, and shore up the hiring of engineering and "customer success" teams. "AI in Wealth Management isn't about technology, it's about trust. We've built Mili from the ground up to be the most secure, compliant and customizable solution that empowers advisors to focus on what matters most - their client relationships," said Mili cofounder and CEO Chirag Gandhi. Chiratae's managing director Ranjith Menon added, "... Today, Generative AI allows for products to be designed that not only meet the strict compliance requirements but also deliver productivity and scale. Mili's enterprise-focused approach and emphasis on trust sets a new standard for how AI will be deployed across wealth management firms". Founded by Gandhi, Vennela Miryala and Siddharth Bulia this year, Mili offers an AI assistant for wealth advisors. The platform claims that its meeting documentation software helps wealth management firms automate their advisory workflows via its real-time AI assistance that works seamlessly with existing systems. The fundraise comes at a time when homegrown generative AI (GenAI) ecosystem is witnessing a healthy investor interest, largely on the back of growing interest and enterprises adopting emerging technologies. Earlier this month, AI-powered SaaS startup Enterpret bagged $20.8 Mn in its Series A funding round led by Canaan Partners. Prior to that, AI-powered employee engagement platform AdvantageClub.ai also raised $4 Mn in a round led by Axilor Ventures. In November, AI SaaS startup Ennoventure secured $8.9 Mn in a Series A round led by Tanglin Venture Partners. Overall, as per Inc42 report, India is home to more than 200 GenAI startups that have raised more than $1.2 Bn in funding between 2020 and the third quarter (Q3) of 2024.
[2]
Mili secures $2 million in funding led by Chiratae Ventures, BoldCap
The funding round was led by early-stage venture capital firms Chiratae Ventures and BoldCap. The funds will be used to strengthen and accelerate the product by expanding customisation capabilities, enhancing integrations, scaling partnerships and hiring talent. Mili, a meeting assistant for wealth management firms, offers advanced meeting documentation software that helps wealth management firms streamline their workflows.Mili, a meeting assistant for wealth management firms, has raised $2 million in a funding round led by early-stage venture capital firms Chiratae Ventures and BoldCap. The round also saw participation from investors such as Sparrow Capital, SFMG Wealth Advisors and Better Capital. The funds will be used to enhance and accelerate the product by expanding customisation capabilities, enhancing integrations, scaling partnerships and hiring talent. "The firms we are catering to are working with high net worth and ultra high net worth clients in just helping them in their financial planning and that journey. But the unfortunate reality is that these advisors are spending over half of their time on admin and back office, taking meeting notes, updating their systems of record, and sending follow ups," cofounder and chief executive Chirag Gandhi told ET. Mili aims to assist these advisors in their tasks, he said. Founded in 2024, the artificial intelligence (AI) assistant for wealth advisors, offers advanced meeting documentation software that helps wealth management firms streamline their workflows while ensuring compliance standards and customisation. It currently serves clients in the US. According to Gandhi, there are over 300,000 wealth advisors in the US, managing $48 trillion in assets. Unlike other industries that focus on using technology to cut costs, this industry is increasing its technology investment because it sees technology as a way to boost advisor capacity and productivity, helping advisors focus on their strengths. "We've seen great early traction with our customers and also paid pilots. So the idea is to ensure that we continue to deliver value for the advisors that we work with," he added. Commenting on the investment, Ranjith Menon, managing director at Chiratae Ventures, said, "The wealth management industry is undergoing a fundamental transformation. Today, Generative AI allows for products to be designed that not only meet the strict compliance requirements but also deliver productivity and scale." "Wealth management firms manage trillions of dollars in assets, but they hardly have any software built for them. Most of them struggle to keep up with customer requests as they don't have large customer service teams. With Mili, they don't need to worry about any back-office operations," said Sathya Nellore Sampat, partner at BoldCap.
Share
Share
Copy Link
Mili, an AI-powered meeting assistant for wealth advisors, secures $2 million in seed funding to enhance its product and expand operations. The startup aims to streamline workflows and boost productivity in the wealth management industry.
Mili, an artificial intelligence (AI) startup focused on the wealth management industry, has successfully raised $2 million in a seed funding round. The round was co-led by Chiratae Ventures and BoldCap, with participation from Sparrow Capital, SFMG Wealth Advisors, Quent Capital's Gregg Fisher, and Better Capital 12.
Founded in 2024 by Chirag Gandhi, Vennela Miryala, and Siddharth Bulia, Mili offers an AI-powered meeting assistant specifically designed for wealth advisors. The platform's advanced meeting documentation software aims to streamline workflows and automate advisory processes for wealth management firms 1.
Chirag Gandhi, co-founder and CEO of Mili, emphasized the importance of trust in AI applications for wealth management. He stated, "AI in Wealth Management isn't about technology, it's about trust. We've built Mili from the ground up to be the most secure, compliant and customizable solution that empowers advisors to focus on what matters most - their client relationships" 1.
The wealth management industry faces significant challenges in terms of productivity and time management. Gandhi highlighted that advisors often spend over half their time on administrative tasks and back-office work, such as taking meeting notes and updating systems 2.
Mili's AI assistant aims to alleviate these pain points, allowing advisors to focus more on client relationships and core advisory services. The platform is designed to integrate seamlessly with existing systems while maintaining strict compliance standards 12.
The U.S. wealth management market presents a substantial opportunity for Mili, with over 300,000 wealth advisors managing approximately $48 trillion in assets. Unlike other industries that use technology primarily for cost-cutting, the wealth management sector is increasing its technology investments to boost advisor capacity and productivity 2.
With the new funding, Mili plans to:
Ranjith Menon, Managing Director at Chiratae Ventures, commented on the investment, saying, "Today, Generative AI allows for products to be designed that not only meet the strict compliance requirements but also deliver productivity and scale. Mili's enterprise-focused approach and emphasis on trust sets a new standard for how AI will be deployed across wealth management firms" 1.
Sathya Nellore Sampat, partner at BoldCap, added, "Wealth management firms manage trillions of dollars in assets, but they hardly have any software built for them. Most of them struggle to keep up with customer requests as they don't have large customer service teams. With Mili, they don't need to worry about any back-office operations" 2.
Mili's funding success is part of a larger trend in India's growing generative AI ecosystem. The country is home to over 200 GenAI startups that have collectively raised more than $1.2 billion in funding between 2020 and Q3 2024 1. This investment in Mili further underscores the increasing interest and adoption of AI technologies in various industries, particularly in the financial services sector.
Reference
[1]
[2]
Nurix AI, a new artificial intelligence startup founded by Mukesh Bansal, has raised $27.5 million in a funding round led by Accel and General Catalyst. The company aims to develop custom enterprise AI agents.
5 Sources
5 Sources
CogniQuest, an AI-powered document intelligence platform, has raised funding to enhance its capabilities in generating insights from complex documents. The investment comes from fintech VC fund Cedar IBSI Capital.
2 Sources
2 Sources
Singulr AI, a startup focused on enterprise AI governance and security, has raised $10 million in seed funding to address the growing challenges of AI adoption in businesses. The company aims to provide tools for managing AI risks, costs, and compliance.
3 Sources
3 Sources
M2P Fintech, an API infrastructure company, has secured ₹650 crore in a Series D funding round, valuing the company at ₹6,550 crore. The funding will be used for global expansion and potential acquisitions.
2 Sources
2 Sources
Jump, an AI solutions provider for financial advisors, has raised $20 million in Series A funding to enhance its AI-powered tools, streamline advisor workflows, and meet growing market demand.
3 Sources
3 Sources
