PineGap.ai, a New York-based AI SaaS startup, announced the closure of a $2.5 million seed round. The funding round was led by US investors SVQuad and Inventus Capital, with additional contributions from DeVC and Silicon Valley entrepreneurs such as Mohit Aron, Vetri Vellore, and Mohan Kumar, as well as Wall Street executives, said the company.
The fund raised will be used for product development efforts and to build engineering team both in Bangalore and the US. The company also plans to increase the headcount of its core engineering team.
Deepak Sharma, co-founder & CEO of PineGap.ai, said, “We are thrilled to have secured $2.5 million in seed funding from leading investors in Silicon Valley.
“This investment will accelerate our product development efforts and allow us to build an engineering team both in Bangalore and the US. We are looking forward to hiring the best and brightest minds in engineering as part of our core team,” said Sharma.
Co-Founded by IIT-BHU graduates Deepak Sharma (CEO) and Ankit Varmani (CBO), PineGap is an equity research platform tailored for Wall Street. With the help of the GenAI and LLMs, the company generate insights for all US listed companies to help analysts.
The company said it aims to support equity research analysts at Hedge Funds, Mutual Funds, and Investment Banks through its AI-powered platform which leverages PineGap's proprietary deep reasoning technology, Pine-LLM, to analyse data and extract insights from public company filings.
BV Jagadeesh, Founding Managing Partner, SVQuad, said, “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.”
“PineGap founders with deep domain expertise are solving this complex problem using GenAI. At SVQuad, we are very excited to partner with PineGap and provide our 100+ years of operational experience to help build PineGap into a market leader and a lasting institution,” he said.
“With the capital provided from the seed round, we plan to deliver an exciting product to the industry which they can trust and incorporate as part of their workflow,” said PineGap.ai co-founder Ankit Varmani.
