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 headlines on Monday with the announcement of its successful $2.5 million seed funding round. The investment, led by US-based investors SVQuad and Inventus Capital, is poised to elevate PineGap.ai’s equity research platform to new heights.
SVQuad and Inventus Capital Lead $2.5 Million Seed Round for PineGap.ai
Founded by graduates of IIT-BHU, Deepak Sharma, and Ankit Varmani, PineGap.ai is on a mission to empower equity research analysts operating in hedge funds, mutual funds, and investment banks. The infusion of capital will fuel PineGap.ai’s efforts to accelerate product development and expand its engineering team, with hubs in Bengaluru and the US.
The funding round witnessed significant participation from DeVC and prominent Silicon Valley entrepreneurs, including Mohit Aron, Vetri Vellore, and Mohan Kumar, alongside executives from Wall Street. This strong backing underscores the confidence in PineGap.ai’s vision and potential to disrupt the financial research landscape.
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Deepak Sharma, Co-Founder, and CEO expressed his excitement about the investment, highlighting its pivotal role in advancing product development and team expansion. Sharma stated, “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.”
PineGap.ai leverages cutting-edge advancements in GenAI and LLMs to generate insights for all US-listed companies, aiming to enhance the efficiency of financial research analysts. BV Jagadeesh, Founding Managing Partner at SVQuad, emphasized the significance of accurate and swift predictions in financial research. Jagadeesh stated, “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.”
With its innovative approach and strong investor backing, PineGap.ai is poised to revolutionize equity research, offering analysts powerful tools to navigate the complexities of the financial market with precision and efficiency.
