PineGap.ai, an AI SaaS startup, announced on Monday that it has raised $2.5 million in its seed funding round, led by US-based investors SVQuad and Inventus Capital. The funding aims to bolster its equity research platform.
Founded by graduates of IIT-BHU, Deepak Sharma and Ankit Varmani, PineGap.ai intends to utilize the raised capital to accelerate product development and expand its engineering team in Bengaluru and the US.
The funding round also witnessed participation from DeVC and prominent Silicon Valley entrepreneurs, including Mohit Aron, Vetri Vellore, and Mohan Kumar, alongside executives from Wall Street.
The startup’s mission is to empower equity research analysts operating in hedge funds, mutual funds, and investment banks. Deepak Sharma, Co-Founder, and CEO expressed, “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.”
Utilizing cutting-edge advancements in GenAI and LLMs, PineGap.ai generates insights for all US-listed companies, aiming to enhance the efficiency of financial research analysts. BV Jagadeesh, Founding Managing Partner at SVQuad, emphasized the importance of accurate and swift predictions in financial research, stating, “Financial research analysts need to make accurate predictions on publicly listed companies based on enormous amounts of information available as accurately and as quickly as possible.”
The Entrepreneur Today Desk