The company plans to utilise the funds for strengthening technology and building scalable growth channels, Groww said in a statement.
Y Combinator is also an investor in the start up, the company added.
Launched in April 2017 by ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, Groww provides direct plans for mutual funds and a "transparent approach to investing via a mobile app and web platform".
Groww, which partners with all 34 fund houses, said the company plans to come out with more financial products and value-added services in the long run.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)