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 its successful $2.5 million seed funding round, spearheaded by prominent US-based investors SVQuad and Inventus Capital. The infusion of capital is earmarked to fortify its equity research platform.
PineGap.ai, Founded by IIT-BHU Graduates, Receives $2.5M Funding for Growth
Founded by graduates of IIT-BHU, Deepak Sharma and Ankit Varmani, PineGap.ai is poised to leverage the funding to accelerate product development and bolster its engineering team across Bengaluru and the US.
The seed funding round witnessed enthusiastic participation from DeVC and distinguished Silicon Valley luminaries, including Mohit Aron, Vetri Vellore, and Mohan Kumar, alongside esteemed executives from Wall Street.
Also read: Ola Ventures into Ecommerce: Expanding Horizons Beyond Ride-Hailing
With a mission to empower equity research analysts in hedge funds, mutual funds, and investment banks, PineGap.ai sets its sights on revolutionizing the financial research landscape. Co-Founder and CEO Deepak Sharma expressed his optimism, stating, “This investment will turbocharge our product development endeavors and enable us to assemble a top-tier engineering team spanning Bengaluru and the US. We are eager to recruit the most talented minds in engineering to bolster our core team.”
Harnessing cutting-edge advancements in GenAI and LLMs (Large Language Models), PineGap.ai endeavors to furnish insights for all US-listed companies, with the ultimate goal of enhancing the efficiency of financial research analysts. BV Jagadeesh, Founding Managing Partner at SVQuad, underscored the pivotal role of accurate and swift predictions in financial research, affirming, “Financial research analysts rely on making precise predictions regarding publicly listed companies, drawing insights from vast troves of available information with utmost accuracy and expediency.”
PineGap.ai’s successful seed funding round not only marks a significant milestone for the startup but also heralds a new era of innovation and advancement in equity research, positioning the company as a trailblazer in the realm of AI-driven financial analysis.
