On Wednesday, Market Pulse (1) announced that it raised 750,000 USD in pre-Series A round of funding. Market Pulse is a Mumbai-based market analysis platform that helps people navigate through and profit off financial markets. Amit Dhakad and Hiral Jain founded the startup in 2015, it is a stock market app with over two million downloads.
Market Pulse claims that it enables users to make better, faster, and more informed decisions in India’s equity and commodity markets. The startup is looking to level the playing field for traders and investors. So, it provides everyone with access to real-time data and insights.
The Series A round includes many investors like HNI investors Ameet Desai (Founder, Anubhuti Advisors LLP, and Ex-Group CFO, Adani Group). Others were Aditya Goel (Director, Securcap, UK), Rashmi Kwatra (Founder and CIO, Sixteenth Street Capital), and Umasankar Nistala (MD and CEO, BPN Paribas India) that participated in the funding round.
Market Pulse on the Latest Fundraise
Amit Dhakad, Co-founder and CEO of Market Pulse, said that they have been profitable and sustainable. The fundraise at this stage is to help grow its technology platform. Also, the investment in branding will attract the best tech talent that is present out there.
Market Pulse aims to increase its reach and triple its active user base in the next 18 months with this new investment. It will utilize the fundraise to invest in technology to enhance its core trading platform. Also, it will kickstart branding and marketing initiatives and expand its team from 30 to 100 people.
Aditya Goel, Director, Securcap, UK, said building a trading platform is an intricate job. But just in a few years, Market Pulse demonstrated its success and sustainability in this business. It is at the helm to nurture both the seasoned investor and those entering the field for the first time.