Summary
PineGap.ai, an AI SaaS startup founded by graduates of IIT-BHU, has successfully raised $2.5 million in seed funding led by SVQuad and Inventus Capital. The funding aims to enhance the company’s equity research platform and facilitate expansion of its engineering team in Bengaluru and the US. Prominent Silicon Valley entrepreneurs and executives from Wall Street also participated in the funding round. PineGap.ai’s mission is to empower equity research analysts with cutting-edge technology, utilizing advancements in GenAI and LLMs to provide insights for US-listed companies.
PineGap.ai, an AI SaaS startup, made waves on Monday with the announcement of a successful $2.5 million seed funding round, led by prominent US-based investors SVQuad and Inventus Capital. The funding injection is earmarked to strengthen its equity research platform, marking a significant milestone for the company.
PineGap.ai Raises $2.5M Seed Funding for Equity Research Platform Expansion
Founded by IIT-BHU graduates Deepak Sharma and Ankit Varmani, PineGap.ai aims to leverage the raised capital to propel product development and scale its engineering team, with a focus on expansion in Bengaluru and the US.
Notable participation in the funding round also came from DeVC and esteemed Silicon Valley entrepreneurs, including Mohit Aron, Vetri Vellore, and Mohan Kumar, alongside key figures from Wall Street.
Also read: Ola Ventures into Groceries and Fashion with ONDC
PineGap.ai’s core mission revolves around empowering equity research analysts operating in hedge funds, mutual funds, and investment banks. Deepak Sharma, Co-Founder, and CEO expressed enthusiasm about the investment’s potential, stating, “This infusion of capital will turbocharge our product development efforts and enable us to assemble a world-class engineering team across Bengaluru and the US. We are eager to attract top talent to our core team.”
Harnessing the latest advancements in GenAI and LLMs (Large Language Models), PineGap.ai specializes in generating actionable insights for all US-listed companies, with the aim of revolutionizing the efficiency of financial research analysts. BV Jagadeesh, Founding Managing Partner at SVQuad, underscored the critical role of swift and accurate predictions in financial research, emphasizing, “In today’s dynamic financial landscape, analysts must navigate vast amounts of data to make precise predictions about publicly listed companies with speed and accuracy.”
With this substantial funding injection and a clear vision for innovation, PineGap.ai is poised to reshape the landscape of equity research, offering analysts powerful tools to navigate the complexities of modern financial markets.
