AI-powered equity research platform Pinegap has raised $8 million in Series A funding to scale its operations, expand its client base internationally, and enhance its automated research tools for hedge funds and asset managers.
Pinegap, an artificial intelligence-powered equity research platform, has raised $8 million in Series A funding as it looks to expand beyond its current base of institutional investors in the United States. The round was led by Stellaris Venture Partners, with existing backers Inventus, Silicon Valley Quad and DeVC also taking part.
The company says the new capital will support sales and go-to-market hiring, engineering growth and the creation of an in-house team of former equity research analysts. Pinegap is pitching itself as a workflow tool for hedge funds, long-only mutual funds and registered investment advisers, with the aim of automating some of the most repetitive parts of buy-side research.
According to Pinegap, the platform is already in use across more than 100 institutional clients and has deployed more than 1,000 AI agents, producing more than 50,000 research reports a month. Its system is built to work around a fund’s own processes, private data and preferred formats, and it sends outputs proactively rather than waiting for a user prompt. The company says the use cases include earnings previews, company primers and thesis tracking.
Pinegap was founded in 2024 by Ankit Varmani, a former JPMorgan analyst with 15 years in institutional finance, and Deepak Sharma, an Indian Institute of Technology alumnus. The startup says the idea emerged while the pair were working through equity research tasks and saw that large language models could take on many of the routine steps. Pinegap had previously raised a $2.5 million seed round led by Silicon Valley Quad and Inventus Capital Partners, with DeVC participating.
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