12 January 2018, India:
Algorithmic trading startup Kuants has raised ₹50 laks (around $80,000) from Delhi-based angel investors Pankaj Chopra and Ankush Gupta.
Ayush Gangwar, co-founder of Kuants said, “The funds will be mainly used to build up a graphical user interface (GUI)-based online stock market simulator and acquire high-end servers required for multi-core processing. We are also venturing into big data technology which will require funds for commercial level products and applications”.
Gangwar further said, “We believe a lot more processes can be solved and made much easier in the domain of algorithmic trading in the Indian markets using technology. With the aim of increasing the penetration of algorithmic trading in India at a nail-biting pace, we are developing complex systems and strategies so that the user does not need to waste his time figuring out a way to developing his trading system.”
Pankaj Chopra, Angel Investor said, “We see a potential in fintech space in India and look at algorithmic trading platform as an interesting bet. The use of algorithms by fintech firms has just started and will certainly reach the zenith in the next few years.”
Ankush Gupta, Angel Investor, said, “We are developing systems and strategies for enhancing penetration of algorithmic trading in India. One can develop ideas using our blogs, formulate quantitative investment strategies using our tutorials, test them using our stock market simulator and do live trading through our execution system.”
Kuants was founded by Mohit Bansal and Ayush Gangwar in October 2017. The vision of Kuants is to make the domain of algorithmic trading, in its entirety, more accessible in the Indian markets.
(Image – Kuants)