Venture Catalysts, India’s first and largest integrated incubator and accelerator, has recently led an undisclosed investment in AlgoBulls, an algorithmic trading platform.
Founded in 2019 by Pushpak Dagade, Jimmit Patel and Suraj Bathija, AlgoBulls provides 100% automated, customized, and professional experiences of trading in stock markets to all. Powered by cutting-edge algorithms, the platform bridges the knowledge gaps that inhibit people from trading profitably. Trading in the stock market is not everyone’s cup of tea because of reasons like lack of credible market/trading knowledge and inability to identify and grab profitable market opportunities. Bridging this need-gap, AlgoBulls provides an end-to-end solution by providing its users with ready-to-use strategies and market knowledge in an automated form without requiring any manual intervention.
Speaking on the investment, Pushpak Dagade, Founder, Algobulls, said, “The funds would be primarily used for setting up teams across technology and operations divisions and Sales & Marketing. The funds would also help us explore opportunities in other countries like the US in the coming months.”
Clients can choose an existing strategy from a large number of options available on the platform’s Strategy Marketplace or get customized trading strategies developed as algorithms. Apart from charging a small transactional fee per transaction, there is no other upfront cost. Although a customized strategy might require some fees depending on the complexity involved and the work-hours put in by the development team.
The strategies, which are developed by professional portfolio and hedge fund managers, are made available as web services which can be readily executed by connecting the broking account from any android app or web browser. Since the platform’s target market is people with no prior trading or coding knowledge, the investors can access sophisticated and institution-like trading strategies with just a few clicks.
Dr. Apoorv Ranjan Sharma, Co-founder & President – Venture Catalysts, commented, “AlgoBulls is a classic example of innovators using the power of technology for simplifying people’s lives. Their AI-driven, automated, and customizable services have the potential to transform the trading experience for millions of users. By handling the complex coding itself, it leaves users with more time to focus on strategy algorithm. We hope that the investment will help the founding team with their future plans of expansion and development to thrive in the extensive and challenging financial market.”
Working on a SaaS model, AlgoBulls provides features like Backtesting, Paper Trading (Virtual Trading) and Real Trading along with an Algo Strategy Marketplace and Professional Strategy Build services in the B2C space. The Algo Strategy Marketplace is ‘live’; it enables customers to see Paper Trading and performance of professional strategies in real-time. In the B2B space, it offers White Label Solutions, Trade Replication Service (copy trading), Webhooks and Developer Options.