NEW DELHI: AI-powered equity research platform PineGap.ai on Thursday said it has raised USD 2.5 million (approximately Rs 20.88 billion) in a funding round led by US-based investors SVQuad and Inventus Capital. Announced.
In addition to Wall Street executives, this seed funding round also included DeVCs including Mohit Aron, founder of Cohesity/Nutanix, Vetri Vellore, founder of Ally.io, and Mohan Kumar, managing partner of Avatar Ventures. and a serial entrepreneur from Silicon Valley also participated.
The funding will be utilized to enhance product development efforts and strengthen the engineering team.
Co-founded by IIT-BHU alumni Deepak Sharma (CEO) and Ankit Varmani (CBO), the company leverages advanced AI to equip equity research analysts working in hedge funds, mutual funds, and investment banks. We aim to enhance their capabilities by providing a platform. It interprets data and derives insights from public company filings, the statement said.
The platform is powered by Pine-LLM, PineGap's proprietary deep inference technology.
PineGap.ai, a New York-based AI SaaS (software as a service) startup focused on revolutionizing Wall Street equity research, has successfully closed a $2.5 million seed round, according to a statement. Announced.
“This investment will accelerate our product development efforts and allow us to build out our engineering teams both in Bangalore and the U.S.,” Sharma, co-founder and CEO of PineGap.ai, said in a statement. said.
Varmani, the company's co-founder and chief business officer, said, “With the funding provided by our seed round, we plan to provide the industry with exciting products that they can trust and incorporate as part of their workflows.” Ta.
(issued April 18, 2024, 12:13 IST)
