Investech startup Octanom raises pre-seed funding, at a valuation of $2.2mn
Summary
Algorithm-based InvesTech start-up, Octanom Tech, has raised an undisclosed amount at a pre-money valuation of $2.2 million in its pre-seed round led by Shankar Vailaya, Ex-Director of Sharekhan Ltd, Nitin Gupta (Founder & CEO, Asymmetrique) among other angel investors.The fresh capital raised will be deployed towards the launch of Octanoms maiden platform next month along with investments in core technology, to expand and bolster leadership and talent. According to a statement issued by the startup, Octanom Tech plans to launch three platforms, in the InvesTech space, over the next two years in India and the U.S.The company aims to entrust the individuals through its well-defined products and technology to make a substantial shift in the financial outcomes. During the COVID season, retail traders and investors in the Indian financial markets have displayed great resilience and a deep interest in looking after their own finances and growing their money, the company tends to improve these issues.Rahul Ghose the Founder & CEO of the company stated The only real tech advancements over the last decade in the financial markets have been new online trading platforms and automated order placement softwares. Octanom Tech, through its unique range of proprietary tools & technology, plans to introduce platforms that will radically Rive through this space,He also added So far, its only been the super-rich and those who work in the investment banking space that have had access to intelligent tech that could aid the trading and investing decision-making process. Towards this endeavor, we are excited to partner with our investors who have an enviable track record of building and nurturing institutionsThe Founder of Octanom,Rahul Ghose, is the former Head of MoneyFlix.com.