16 April 2024 — PineGap.ai, an AI Software-as-a-Service (SaaS) startup, announces a successful seed funding round of $2.5 million led by US-based investors SVQuad and Inventus Capital, aimed at enhancing its equity research platform.
Co-founded by IIT-BHU graduates Deepak Sharma and Ankit Varmani, PineGap.ai focuses on empowering equity research analysts in hedge funds, mutual funds, and investment banks with advanced AI tools.
The raised funds will fuel product development efforts, strengthen the engineering team in Bengaluru and the US, and facilitate the hiring of top talent in engineering, as stated by Deepak Sharma, Co-Founder, and CEO.
The funding round attracted participation from DeVC, Silicon Valley serial entrepreneurs like Mohit Aron and Vetri Vellore, alongside Wall Street executives, reflecting broad support and confidence in PineGap.ai’s innovative approach to equity research.
Utilizing GenAI and LLMs advancements, PineGap.ai aims to provide enhanced insights for US-listed companies, enabling analysts to make accurate predictions efficiently and effectively.
Conclusion:
PineGap.ai’s successful funding round signifies a strong endorsement of its mission to revolutionize equity research through cutting-edge AI solutions. The investment will fuel growth, technology development, and talent acquisition, positioning the startup for impactful contributions to the financial research landscape.
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