[Funding alert] Venture Catalysts leads a 2Cr investment in trading platform AlgoBulls
The funds would primarily be used for setting up teams across technology and operations divisions and Sales and Marketing.
Venture Catalysts, an integrated incubator and accelerator platform, has recently invested in Mumbai-based algorithmic trading platform AlgoBulls.
Founded in 2019 by Pushpak Dagade, Jimmit Patel and Suraj Bathija, AlgoBulls provides automated, customized, and professional experiences of trading in stock markets to all. It provides an end-to-end solution by providing its users with ready-to-use strategies and market knowledge in an automated form without requiring any manual intervention.
Speaking about the fund raise Pushpak said,
“The funds would be primarily used for setting up teams across technology and operations divisions and Sales and Marketing. It would also help us explore opportunities in other countries like the US in the coming months.”
Working on a SaaS model, AlgoBulls provides features like Backtesting, Paper Trading (Virtual Trading) and Real Trading along with an Algo Strategy Marketplace and Professional Strategy Build services in the B2C space.
“AlgoBulls is a classic example of innovators using the power of technology for simplifying people’s lives. Their AI-driven, automated, and customizable services have the potential to transform the trading experience for millions of users. By handling the complex coding itself, it leaves users with more time to focus on strategy algorithm. We hope that the investment will help the founding team with their future plans of expansion and development to thrive in the extensive and challenging financial market,” added Apoorv Ranjan Sharma, Co-founder and President, Venture Catalysts.
Venture Caatalyst was set up in 2015 by Sharma, Anuj Golecha, Anil Jain and Gaurav Jain. It invests $250,000 – $1.5 million in early stage startups that have potential to create enduring value for over a long period of time.
Some of its recent investments includes AI-based culinary platform Klovechef, beverage brand Tea Brewing Co., employee service desk platform Rezolve.ai, retail-technology startup Gully Network, electric vehicle charging services startup Charge+Zone.
Edited by Anju Narayanan