Bangalore-based Celerix Tech, a fintech product and services startup, has raised $400K in seed funding from Bitkemy Ventures.
Celerix Technologies is a fintech product and services company focused on FPGA-based hardware accelerated technologies & high-performance trading and portfolio management systems. The startup serves as a technology outsourcing partner for buy side, sell side firms, investment banks, exchange operators, brokerages, hedge funds and other players in the investment community in building performance critical applications.
It was founded in 2013 by NITK Surathkal alumni Nagesh Kodavali and Nithish Rao. Nithish was also instrumental in setting up a SEBI AIF Category-III Hedge Fund, before joining Celerix.
Kodavali said, “The funds raised from this round will be used for expanding the team. With further induction of funds, we want to strengthen our team and maybe establish a sales office in Mumbai.”
Celerix is in talks with other investors as well to raise more funds. The investment by Bitkemy is the first external funding round raised by the startup. Prior to this, it was bootstrapped.
According to a CII-PwC Study, investment in fintech companies in India touched $1.2 Bn in 2015, compared to $145.1 Mn in 2014. Recently, fintech startup ClearTax raised $12 Mn led by SAIF Partners while, CreditVidya raised $2 Mn from Kalaari Capital.
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