AI-powered equity research startup Pinegap has raised US$8 million (over ₹76 crore) in a Series A funding round led by Stellaris Venture Partners, with participation from existing investors Silicon Valley Quad and DeVC.

The New York-based company, which also operates an office in Bengaluru, will use the fresh capital to expand its sales and go-to-market teams, hire additional engineers, and establish an in-house team of experienced equity research analysts.

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AI Agents for Equity Research

Founded in 2024 by Ankit Varmani and Deepak Sharma, Pinegap develops an AI-powered research platform for equity analysts and portfolio managers at hedge funds and mutual funds.

The platform uses AI agents to automate repetitive and time-consuming research workflows, including analyzing company reports, monitoring earnings calls, preparing earnings previews, creating company primers, and tracking investment theses.

By automating these processes, Pinegap aims to give investment professionals more time to focus on higher-value activities such as evaluating companies, developing investment convictions, and making portfolio decisions.

Customized for Investment Teams

Rather than operating as a general-purpose chatbot or search tool, Pinegap works with investment teams to understand their individual research processes and requirements.

The company then develops customized AI agents aligned with each fund’s data, research formats, workflows, and investment style, allowing the technology to integrate more closely with existing equity research operations.

Deepak Sharma, CEO and Co-Founder of Pinegap, said buy-side analysts typically cover dozens of companies directly while monitoring hundreds of additional potential investments, creating a significant volume of recurring manual research work.

He said Pinegap aims to automate these workflows so analysts can spend more time on judgment, conviction, and investment decisions.

Funding to Scale Product and Operations

Pinegap will use its Series A funding to strengthen its engineering capabilities and accelerate commercial expansion as it targets more institutional investment firms.

The startup also plans to build an internal team of experienced equity research analysts, combining financial market expertise with its technology capabilities to further improve the platform.

Alok Goyal, Partner at Stellaris Venture Partners, said equity analysts and portfolio managers face growing volumes of complex information while many of their existing research tools have failed to keep pace.

He highlighted Pinegap’s combination of financial domain expertise and technology development capabilities, alongside its early adoption among investment funds, as key factors behind the investment.

With the fresh funding, Pinegap plans to deepen its AI-powered research capabilities and expand adoption among hedge funds, mutual funds, and other institutional investment teams.

US-based insurtech Klaimee has raised $5.5 million in seed funding to develop insurance products specifically designed for autonomous AI systems, offering businesses protection when AI agents make mistakes that result in financial losses or operational failures.

The round was led by FundersClub’s Alexander Mittal, with participation from ex/ante, Pioneer Fund, Multimodal Ventures, Kima Ventures, Rebel Fund, Robinhood Ventures, Y Combinator, and several angel investors.

Building Insurance for the AI Agent Era

Unlike traditional software, autonomous AI agents can independently execute financial transactions, send emails, modify sensitive data, make business decisions, and interact directly with customers.

According to Klaimee, these new capabilities expose enterprises to risks that conventional Technology Errors & Omissions (E&O) and Cyber Insurance policies were never designed to cover.

Rather than treating AI failures as standard software bugs or cybersecurity incidents, Klaimee has built a platform that evaluates, certifies, and insures AI agents based on the unique risks associated with autonomous decision-making.

Its offering combines technical audits, operational risk assessments, AI-specific liability insurance, and certification into a single framework that enterprises can use during procurement and vendor approval processes.

Solving a Growing Enterprise Problem

The startup argues that one question is increasingly slowing enterprise AI adoption:

Who pays if an autonomous AI agent causes damage?

As AI systems gain greater autonomy, procurement, legal, and risk management teams are beginning to require software vendors to demonstrate that their AI products are backed by dedicated liability coverage before contracts are signed.

Klaimee says several enterprise customers have already encountered procurement requests asking for proof of AI liability insurance worth at least $5 million per occurrence before large commercial agreements could proceed.

The issue is becoming more pressing as regulations evolve. The company points to legislation such as California’s AB 316 and the EU AI Act, alongside insurers increasingly excluding AI-related claims from traditional liability policies.

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Backing AI with Financial Guarantees

Founded by Ines Boutemadja and Julien Catonnet, Klaimee aims to bridge the gap between AI deployment and enterprise risk management.

The company’s platform audits AI agents, evaluates their operational reliability, certifies approved systems, and backs them with insurance specifically designed for autonomous AI failures.

According to CEO Ines Boutemadja, enterprises increasingly need more than technical assurances—they also require financial guarantees that AI-related failures will be covered.

The founders compare today’s AI insurance market to the early days of cyber insurance two decades ago, arguing that AI liability is becoming a new category of enterprise risk that will require dedicated insurance products rather than extensions of existing policies.

Riding the Next Wave of AI Infrastructure

The funding will be used to expand Klaimee’s operations and further develop its certification and insurance platform as demand for enterprise AI governance continues to grow.

As organizations move beyond AI copilots toward fully autonomous systems capable of making decisions and executing actions independently, startups like Klaimee are emerging as part of a broader ecosystem building the infrastructure needed for widespread AI adoption.

Instead of focusing solely on improving AI capabilities, the company is addressing the trust, accountability, and financial safeguards enterprises increasingly require before allowing autonomous AI agents to operate inside mission-critical business workflows.

Hang Ten Systems, the AI startup founded by former Infosys CEO Vishal Sikka, has raised $32 million (approximately ₹302 crore) in a seed funding round led by Mayfield Ventures.

The round also attracted participation from Aramco Ventures, the venture capital arm of Aramco, alongside several angel investors.

The fresh capital will be used to expand the company’s workforce and accelerate the deployment of its AI-powered enterprise solutions for large organizations worldwide.

Founded by Vishal Sikka, Hang Ten Systems helps enterprises adopt artificial intelligence to improve operations, accelerate digital transformation, and modernize software development.

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Accelerating Enterprise AI Adoption

Hang Ten Systems plans to use the newly raised funding to expand its engineering and enterprise teams while increasing its presence among large global organizations.

The company has already begun working with major enterprise customers, including Siemens Gamesa Renewable Energy and Fresenius, delivering AI-powered project execution and enterprise transformation solutions.

Its platform combines artificial intelligence with industry expertise to help organizations improve operational efficiency, streamline software development, and accelerate digital initiatives.

According to Vishal Sikka, the company aims to help businesses unlock tangible value from AI as enterprises move beyond experimentation toward large-scale deployment.

AI-Powered Software Development Platform

Hang Ten Systems is developing an AI-native operating model designed to reduce the time and cost required to build, modify, and manage enterprise software.

The platform incorporates AI-powered code generation, a reusable skills library, and a network of Forward Deployed Engineers (FDEs) who work closely with enterprise customers on complex transformation projects.

Its solutions support a wide range of business functions, including enterprise transformation, finance, human resources, and new product development.

By combining automation with human expertise, the company aims to help organizations develop and scale SaaS applications more efficiently while reducing implementation complexity.

Experienced Leadership Team

Hang Ten Systems currently employs a team of 16 professionals with experience across enterprise software, artificial intelligence, and industrial technology.

In addition to founder Vishal Sikka, the leadership team includes former ANSYS executive Navin Budhiraja, alongside Sanjay Rajagopalan, Tao Liu, Frank Yu, Pradeep Panicker, and Yusuf Safdari.

Explaining the company’s name, Sikka compared the rapid rise of artificial intelligence to surfing a powerful wave, saying businesses must not only embrace AI but master it to fully realize its potential.

With fresh funding, early enterprise customers, and an experienced leadership team, Hang Ten Systems is positioning itself as a provider of AI-powered enterprise transformation solutions. The investment will enable the company to expand globally while helping organizations integrate artificial intelligence into core business operations at scale.