NEW DELHI: Market analysis platform Market Pulse has raised $750,000 in pre-Series A funding, led by HNI investors Ameet Desai (founder, Anubhuti Advisors LLP and ex-group CFO, Adani Group), Aditya Goel (director, Securcap, UK), Rashmi Kwatra (founder and CIO, Sixteenth Street Capital), and Umasankar Nistala (MD, CEO, BNP Paribas India), according to a release.
Market Pulse will use the capital to invest in technology to enhance its core trading platform, kick start branding and marketing initiatives and expand its team from 30 to 100 people.
Market Pulse has registered 2 million downloads and has a rating of 4.6 on the Google Play Store. The app enables its users to make better, faster, more informed trading decisions in the equity and commodity markets in India. Market Pulse aims to level the playing field for traders and investors, providing everyone with access to real-time data and insights.
With this new investment, the platform aims to increase its reach and triple its active user base in the next 18 months, the release added.
Amit Dhakad, co-founder & CEO of Market-Pulse said, “We’ve been a profitable, sustainable business; the fund-raise at this stage is to help grow our technology platform, and invest in branding to be able to attract the best tech talent there is.”
Aditya Goel, director, Securcap, UK, said, “Building a trading platform is a complex business and Market Pulse, in just a few years, has demonstrated its success and sustainability. The investment market is set to grow and Market Pulse is at the helm to nurture both the seasoned investor and those entering the field for the first time, giving them the right tools, knowledge, skills and support to make smarter decisions and better profits. We are happy to partner with Market Pulse and wish them the best as they reach newer heights”.
Market Pulse was founded in 2015 by Amit Dhakad and Hiral Jain. Dhakad was previously with technology consultancy ThoughtWorks, while Jain worked at Financial Technologies. The core team at Market Pulse comprises senior technology leaders with expertise in building user-centric products.
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