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, led by prominent US-based investors SVQuad and Inventus Capital. The infusion of funds is aimed at fortifying its equity research platform, marking a significant milestone in the company’s journey.
PineGap.ai Secures $2.5 Million in Seed Funding to Revolutionize Equity Research
Founded by graduates of IIT-BHU, Deepak Sharma, and Ankit Varmani, PineGap.ai is poised to leverage this capital to expedite product development and scale its engineering team across Bengaluru and the US. The funding round also saw enthusiastic participation from DeVC and distinguished Silicon Valley entrepreneurs, including Mohit Aron, Vetri Vellore, and Mohan Kumar, alongside seasoned executives from Wall Street.
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At the core of PineGap.ai’s mission is the empowerment of equity research analysts operating within hedge funds, mutual funds, and investment banks. Deepak Sharma, Co-Founder, and CEO, expressed his optimism about the investment, stating, “This infusion of capital will turbocharge our product development efforts and enable us to assemble a top-notch engineering team both in Bengaluru and the US. We are eager to onboard the most talented minds in engineering to bolster our core team.”
Harnessing cutting-edge advancements in GenAI and LLMs, PineGap.ai specializes in generating actionable insights for all US-listed companies, aiming to streamline and enhance the efficiency of financial research analysts. BV Jagadeesh, Founding Managing Partner at SVQuad, underscored the critical role of accurate and rapid predictions in financial research, emphasizing, “In the dynamic landscape of financial markets, analysts must make precise predictions on publicly listed companies based on vast volumes of data, swiftly and accurately.”
As PineGap.ai continues to innovate and disrupt the equity research domain, fueled by this substantial investment, it is poised to redefine the standards of accuracy and efficiency in financial analysis, empowering analysts with unparalleled insights and tools to navigate the complexities of the market.
