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, spearheaded by US-based investors SVQuad and Inventus Capital. The infusion of capital is earmarked to fortify PineGap.ai’s equity research platform, marking a significant stride in the startup’s trajectory.
PineGap.ai’s Equity Research Platform Boosted by $2.5 Million Seed Funding
Founded by graduates of IIT-BHU, Deepak Sharma, and Ankit Varmani, PineGap.ai aims to leverage the raised funds to ramp up product development initiatives and augment its engineering team across Bengaluru and the US.
The seed funding round witnessed enthusiastic participation from DeVC and notable Silicon Valley luminaries, including Mohit Aron, Vetri Vellore, and Mohan Kumar, alongside executives from Wall Street, underlining the widespread industry interest and confidence in PineGap.ai’s vision.
At the core of PineGap.ai’s mission lies the empowerment of equity research analysts in hedge funds, mutual funds, and investment banks. Deepak Sharma, Co-Founder, and CEO, articulated the significance of the investment, stating, “This infusion of capital will accelerate our product development endeavors and enable us to assemble a top-tier engineering team spanning Bengaluru and the US. We are committed to recruiting the brightest minds in engineering to bolster our core team.”
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Harnessing cutting-edge advancements in GenAI and LLMs (Large Language Models), PineGap.ai specializes in generating actionable insights for all US-listed companies, with the aim of streamlining and enhancing the efficiency of financial research analysts. BV Jagadeesh, Founding Managing Partner at SVQuad, underscored the pivotal role of accurate and swift predictions in the realm of financial research, emphasizing, “Financial research analysts must navigate vast volumes of information to make precise predictions on publicly listed companies swiftly and accurately.”
With the backing of substantial seed funding and a clear vision for revolutionizing equity research, PineGap.ai is poised to chart new horizons in the financial technology landscape, driving innovation and efficiency in the domain of investment analysis.
