Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Bangalore-based Neotrade Analytics, a startup that distributes real-time data to traders & trading bodies has raised about $227K (INR 1.5 Cr.) in its first funding round from startup incubator and fund Rainmatter.
Started in 2013 by Vivith Kumar Lakshminarayan and Sharath Kumar S, Neotrade Analytics helps traders and individuals to receive & access real-time market data on their preferred programming language platform at affordable prices. This enables traders to crunch, analyse and decide when exactly they need to invest in markets.
The company claims to have more than 1,000 registered traders and is also an authorised vendor of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The raised capital will be used to build a comprehensive digitised trading solutions product to help traders build strategies as well as marketing efforts.
Nithin Kamath, founder & chief executive of online discount brokerage firm Zerodha, which started Rainmatter, said, “The challenges that engineers face is that they cannot really put their trading skills to test due to lack of access to market data on the platforms of their choice.”
Rainmatter is also an investor in Tradelabs.
Earlier this month, analytics and engagement platform for mobile apps, MoEngage, raised $4.25 Mn led by Helion Venture Partners. While Ratan Tata also invested an undisclosed amount in Mumbai-based data analytics firm Infinite Analytics.
Last month, another Mumbai-based big data analytics startup, IntelligenceNODE, raised $4 Mn in a funding round led by New Enterprise Associates (NEA) and its existing investor Orios Venture Partners.
Also, in July, Bangalore-based IQLECT, which operates in big data and analytics space raised $2 Mn in a round from Exfinity Venture Partners.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.