The raised capital will be used to expedite product development and build the engineering team in Bangalore and the US.
PineGap.ai, a New York-based Artificial Intelligence (AI) SaaS startup focused on innovating equity research in the financial sector, announced the successful completion of a $2.5 million seed funding round today.
The investment was spearheaded by US-based venture firms SVQuad and Inventus Capital, with additional contributions from DeVC and prominent Silicon Valley entrepreneurs, including Mohit Aron (Founder of Cohesity/Nutanix), Vetri Vellore (Founder of Ally.io), and Mohan Kumar (Managing Partner at Avataar Ventures), as well as executives from Wall Street.
Mission of PineGap.ai
The company aims to revolutionize the way equity research analysts in Hedge funds, Mutual funds, and Investment Banks work by offering an advanced Artificial Intelligence -driven platform to interpret and extract insights from public company filings. The platform leverages Pine-LLM, PineGap’s proprietary deep reasoning technology.
Deepak Sharma, Co-Founder & CEO of PineGap.ai, expressed his enthusiasm about the funding, stating, “Securing $2.5 million in seed funding from top Silicon Valley investors is a significant milestone for us. This investment will expedite our product development initiatives and enable us to expand our engineering team in both Bangalore and the US. We are eager to onboard the most talented engineers to join our core team.”
The founding team of PineGap.ai boasts a rich blend of experience from esteemed institutions and organizations. Deepak Sharma, an IIT-BHU alumnus, leads the company as CEO. Co-founder Ankit Varmani, who brings over 15 years of experience in Wall Street, serves as the Chief Business Officer. Avijit Thawani, the founding engineer and Head of Artificial Intelligence, contributes his expertise in Generative AI/LLMs, acquired during his PhD at USC.
BV Jagadeesh, Founding Managing Partner at SVQuad, shared his excitement about the collaboration: “Financial research analysts face the challenge of making accurate and timely predictions about publicly listed companies based on vast amounts of data. PineGap’s founders, with their profound domain knowledge, are addressing this complex issue using GenAI. At SVQuad, we are thrilled to partner with PineGap and leverage our 100+ years of operational experience to support PineGap’s growth into a market-leading and enduring institution.”
Ankit Varmani added, “With the funding from the seed round, our goal is to deliver a compelling product to the industry that they can rely on and integrate into their workflow.”
PineGap.ai’s successful seed funding round underscores the growing importance of Artificial Intelligence-driven solutions in transforming equity research on Wall Street. With the backing of prominent investors and a talented founding team, it is well-positioned to revolutionize the financial research landscape and establish itself as a market leader.
