PineGap.ai, a New York-headquartered AI SaaS startup dedicated to revolutionizing equity research on Wall Street, announced today the successful closure of a $2.5 million seed 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.
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 platform is powered by Pine-LLM, PineGap’s 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. “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.”
The founding team behind PineGap.ai brings together a wealth of experience from prestigious institutions and organizations. 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.
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.”
“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.
