Equity research startup Pinegap has raised $8 million (around Rs 76 crore) in a Series A funding round led by Stellaris Venture Partners, with participation from existing investors including Silicon Valley Quad and DeVC.

The startup had previously raised $2.5 million in a seed funding round in 2024.

c, Pinegap said in a press release.

Founded in 2024 by Ankit Varmani and Deepak Sharma, Pinegap is an AI powered equity research platform that automates workflows for institutional buy side analysts at hedge funds and mutual funds using custom AI agents. The company develops agentic AI platforms and custom AI workflows for institutional equity research, earnings analysis, and investment thesis tracking.

Pinegap says it works directly with investment teams to understand their workflows before building custom AI agents tailored to each team's research style. The company claims to have deployed more than 1,000 AI agents across over 100 customers, which have generated over 50,000 research reports to date.

Pinegap is addressing a growing opportunity where startups are using AI to automate established enterprise workflows. Similar approaches are being adopted across sectors such as healthcare, ecommerce, marketing, and financial services to improve productivity and streamline operations.