Mumbai, Maharashtra, India | 22nd December 2022: Algorithm-based InvesTech start-up, Octanom Tech, has raised an undisclosed amount at a pre-money valuation of $2.2 million in its pre-seed round led by Shankar Vailaya, Ex-Director of Sharekhan Ltd., Nitin Gupta (Founder & CEO, Asymmetrique) among other angel investors.
Over the last two years, particularly during the pandemic, retail traders and investors in the Indian financial markets have displayed great resilience and a deep interest in looking after their own finances and growing their money. Octanom Tech’s objective is to empower these individuals through its distinct products and technology so as to make a large enough difference to their financial outcomes. Octanom Tech plans to launch three platforms, in the InvesTech space, over the next two years in India and the U.S.
Octanom’s Founder, Rahul Ghose, is the former Head of MoneyFlix.com. He has been a professional trader with more than a decade and a half of trading experience since an early age of 17, having guided thousands of traders and investors to understand on how to make a living in this field.
“The only real tech advancements over the last decade in the financial markets have been new online trading platforms and automated order placement softwares. Octanom Tech, through its unique range of proprietary tools & technology, plans to introduce platforms that will radically ‘Rive’ through this space,” said Rahul Ghose the Founder & CEO of the company.
“The Octanom team is making proprietary Algorithmic, A.I. based research advisory and innovative investment avenues accessible to the retail participants like never before,” said Shankar Vailaya.
“So far, it’s only been the super-rich and those who work in the investment banking space that have had access to intelligent tech that could aid the trading and investing decision-making process. Octanom’s driving thought was – Why can’t everyone have this advantage? We want to ensure that the company’s mission – ‘For the love of retail’ is upheld in whatever we create and is always part of our core driving force. Towards this endeavor, we are excited to partner with our investors who have an enviable track record of building and nurturing institutions,” added Rahul Ghose.
The fresh capital raised will be deployed towards the launch of Octanom’s maiden platform next month along with investments in core technology, to expand and bolster leadership and talent.