Stellaris Venture Partners led an $8 million Series A into Pinegap, an AI platform founded in 2024 that’s already deployed 1,000 agents. The funding targets a notoriously manual segment of finance, automating tasks analysts spend hours on daily. The investment backs a 2024 startup that claims 1,000 agents deployed for Wall Street's institutional investors.
How We Got Here
Pinegap launched in 2024, securing a $2.5 million seed round earlier that year from Silicon Valley Quad and Inventus Capital. Founders Ankit Varmani and Deepak Sharma, a former JPMorgan analyst, built the platform to streamline repetitive equity research tasks using LLMs.
The Numbers
- Pinegap's agentic AI automates specific tasks like understanding company disclosures, tracking earnings calls, and reviewing structural changes.
- It custom-builds AI agents tuned to specific fund teams' styles, directly working with them to understand operations.
- The startup currently serves over 100 customers, primarily Wall Street clientele, with 1,000+ agents deployed.
- These agents have collectively generated more than 50,000 research reports to date.
- Part of the fresh $8 Mn capital will establish an in-house team of ex-equity research analysts.
What Happens Next
🇮🇳 Why This Matters for India
For SaaS founders in Bengaluru building GenAI products, this validates high-value, niche applications in finance, even if the primary customer base is global.
The Take
Most AI solutions promise full automation; Pinegap’s focus on custom agentic AI working alongside analysts is the smarter play for complex industries like finance. This approach sidesteps the "AI will replace jobs" narrative, instead building tools analysts wished they had for faster, deeper insights.
Source:
Inc42 ↗