OnFinance.ai, a startup established by BITS Pilani alumni, has secured $1.05 million in seed funding, with Silverneedle Ventures and IAN spearheading the investment. Notable contributors to this funding round include LetsVenture Fund, SSV Fund, and renowned angel investor Kunal Shah, known for his association with CRED. The substantial funding will be employed to strengthen the company's engineering team and extend the global presence of its financial AI product, NeoGPT, with particular emphasis on the U.S. market.

Fundamentally, the NeoGPT platform by OnFinance.ai is an advanced Large Language Model (LLM) designed to provide customized AI assistants for research analysis, relationship management, sales, and customer success teams in financial institutions, asset management firms, and wealth management companies.

The platform is crafted to simplify complex internal procedures and improve data-driven decision-making, addressing the increasing need in the financial industry for accelerated AI-driven operations. Under the leadership of co-founders Anuj Srivastava and Priyesh Srivastava, the company is preparing to extend its offerings to banks and wealth management companies, both in the United States and the United Kingdom.