Finance

$1 Million Raised by Streak AI Technologies in Latest Funding Round

India has become one of the more important hotbeds of tech-based startups in Asia and a large variety of startups have been established in the past few years. Many of them have gone on to become highly successful companies and many more are now coming up through the ranks. One of those is Streak AI Technologies, which has managed to create a platform that can allow retail stock market investors to validate trading strategies and then apply those in real life trading. In a new development, the company has managed to raise $1 million in pre-series A funding round from 3one4Capital and Rainmatter Capital. It should be noted that Rainmetter had been one of the earliest investors in Streak back in 2017.

The premise behind this product is quite simple. It is a well-known fact that the largest banks, investment funds, and institutions trade through algorithms. A retail investor does not have such top-level technology to fall back on and hence, this platform created by Streak AI could help bridge that competitive gap. The platform has the potential to go on to become a successful one, considering the fact that more and more people are entering the Indian capital markets every year. A retail trader would not need any coding knowledge at all in order to test their trading strategies and elevate their skills. The company has already struck a partnership deal with brokerage firm Zerodha that would take their platform to customers across the length and breadth of India.

In this regard, it is also important to note that the startup has managed to attract a fair share of customers to its platform and currently boasts of 150,000 customers. Those customers have tested out millions of strategies on the platform and the total value of transactions that were completed in the platform is around $300 million. Harsha Manohar, who is one of the co-founders of Streak AI, stated,

Identifying trading opportunities real time and not having to track positions manually, across segments, has given our users an extra edge. Technical indicators that were mere formulae are now being used to create meaningful trading strategies and techniques that put Indian retail investors on par with the global standards.

Tags

Jodie Miller

Jodie Miller is experienced journalist. She holds double degree in journalism and communication. She joined our team as a content curator. She enjoys writing and curating contents related to finance and forex world.
Back to top button
Close