Nuvama acquires 74% in wealth-tech platform Pickright

Nuvama Wealth, formerly known as Edelweiss Personal, has acquired 74% equity in Bengaluru-based Pickright Technologies, a wealth-tech startup. The acquisition will provide an exit to existing investors, including Mumbai Angels Network, JITO Angel Network, and 100x.VC. The remaining stakes will be held by Pickright's founders. Pickright was founded by Archana Elapavuluri and Namandeep Bhatia in 2019. The company connects individual investors with advisors across all asset classes. Pickright will continue to operate independently after the acquisition. The acquisition comes two years after Pickright secured USD 200,000 in a seed funding round led by JITO Angel Network.