An AI SaaS based startup PineGap.ai declared that, it has secured $2.5 million funding in their seed funding round which was led by US-based investors SVQuad and Inventus Capital. The freshly lifted fund will help it to strengthen its equity research platform.

The tech based startup was structured and set up by IIT-BHU graduates Deepak Sharma and Ankit Varmani. The company declared that, the funds will be used to expedite product development and build the engineering team in Bengaluru and the US.

The funding round also witnessed the participation from DeVC and Silicon Valley serial entrepreneurs like Mohit Aron (Founder, Cohesity/Nutanix), Vetri Vellore (Founder, Ally.io), and Mohan Kumar (Managing Partner, Avataar Ventures), alongside Wall Street executives.

PineGap.ai is targeting to empower equity research analysts working in hedge funds, mutual funds and investment banks.

The Co-Founder and CEO, Deepak Sharma said, “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.”

They are using extremely high tech methods and devices which are based on Artificial intelligence and they hope that with the help of the latest advances in Generative AI and LLMs, the startup generates insights for all US-listed companies to create “turbocharged analysts”.

The founding Managing Partner at SVQuad, BV Jagadeesh opined, “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.”