Pinegap raises $8 million for AI-powered market analysis platform

AI-powered equity research startup Pinegap announced it has raised $8 million in a Series A funding round led by Stellaris Venture Partners. Existing investors, including Silicon Valley Quad and DeVC, also participated.

The New York-based company, which also has an office in Bengaluru, plans to use the new capital to build its go-to-market and sales capabilities, expand its engineering team, and establish an in-house team of former equity research analysts.

Founded in 2024, Pinegap operates an AI platform designed to automate tasks for institutional equity analysts and portfolio managers in hedge funds and mutual funds. The platform helps automate processes such as analyzing company disclosures, tracking earnings calls, and reviewing structural changes.

Pinegap states its AI agents have been deployed across more than 100 customers, generating over 50,000 research reports. The startup was founded by Ankit Varmani, a former JPMorgan analyst, and Deepak Sharma, an IIT-BHU alumnus.