US-based investors SVQuad and Inventus Capital led PineGap.ai’s $2.5 million seed round, which the company used to expand its equity research platform.
Deepak Sharma and Ankit Varmani, who co-founded the company, both graduated from IIT-BHU. The startup stated that the money raised will be utilised to expand the technical staff in Bengaluru and the US and to accelerate product development, as reported by ET.
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Wall Street professionals participated in the fundraising round along with DeVC and Silicon Valley serial entrepreneurs like as Mohit Aron (Founder, Cohesity/Nutanix), Vetri Vellore (Founder, Ally.io), and Mohan Kumar (Managing Partner, Avataar Ventures).
“This investment will accelerate our product development efforts and allow us to build an engineering team both in Bengaluru and the US. We are looking forward to hiring the best and brightest minds in engineering as part of our core team,” said Deepak Sharma, Co-Founder and CEO, PineGap.
The purpose of PineGap.ai is to enable stock research analysts employed by investment banks, and mutual funds.
About PineGap.ai
PineGap.ai is building an AI-powered equity research platform for Wall Street to help equity research analysts working in Hedge funds, Mutual funds, and Investment Banks, etc. interpret data & derive insights through deep reasoning.
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