Stellaris Venture led $8 M Series A funding raised by equity research startup Pinegap

In a Series A fundraising round headed by Stellaris Venture Partners, equity research startup Pinegap has secured $8 million (about Rs 76 crore), with participation from current backers Silicon Valley Quad and DeVC.

In 2024, the firm raised $2.5 million at an early fundraising round, as per media.

Pinegap is an AI-powered equities research platform that was founded in 2024 by Ankit Varmani and Deepak Sharma. It uses bespoke AI agents to automate workflows for institutional buy side analysts at mutual funds and hedge funds. The company creates unique AI workflows and agentic AI platforms for investment thesis tracking, earnings analysis, and institutional equities research.

Pinegap claims that before creating unique AI agents that are suited to each team’s research methodology, it works closely with investment teams to comprehend their processes. According to the startup, more than 50,000 research papers have been produced by more than 1,000 AI agents that have been deployed across more than 100 customers.

Pinegap is taking advantage of an expanding market where entrepreneurs are automating conventional enterprise operations with artificial intelligence. To increase efficiency and simplify operations, similar strategies are being used in a variety of industries, including marketing, healthcare, e-commerce, and financial services.