PineGap.ai revolutionizing equity research raises $2.5M in a seed round

PineGap.ai, a New York-headquartered AI SaaS startup dedicated to revolutionizing equity research on Wall Street, today said it has raised $2.5 million in a seed funding round.

The funding round was led by US-based investors SVQuad and Inventus Capital, with participation from DeVC and notable 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.

Empowering equity research analysts

PineGap.ai aims to empower equity research analysts working in Hedge funds, Mutual funds, and Investment Banks by providing them with an advanced AI-powered platform to interpret data and derive insights from public company filings. 

The startup said that its online platform is powered by Pine-LLM, its proprietary deep reasoning technology.

"We are thrilled to have secured $2.5 million in seed funding from leading investors in Silicon Valley," said Deepak Sharma, Co-Founder & CEO of PineGap.ai.

Accelerating product development efforts

According to Sharma, The funding will accelerate the product development efforts and will help in building an engineering team both in Bengaluru (Karnataka) and the US. 

"We are looking forward to hiring the best and brightest minds in engineering as part of our core team," Sharma added.

Who are the founders?

PineGap.ai was founded by IIT-BHU graduates Deepak Sharma (CEO) and Ankit Varmani (CBO). Deepak Sharma, an IIT-BHU graduate, leads the company as CEO. Co-founder Ankit Varmani, with over 15 years of Wall Street experience, serves as the Chief Business Officer.

Avijit Thawani, the founding engineer and Head of AI, brings expertise in Generative AI/LLMs from his PhD at USC.

“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 Varmani. 

SVQuad's Jagadeesh expresses excitement about the partnership

BV Jagadeesh, Founding Managing Partner at SVQuad, expressed excitement about the partnership: “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."