Algorithmic trading platform, Kuants on Thursday raised Rs. five million from Delhi based angel investors, Pankaj Chopra and Ankush Gupta.
The fresh funds will be majorly used to build up the Graphical User Interface (GUI) based online stock market simulator, and acquiring high-end servers required for multi-core processing.
"We see a huge potential in fintech space in India and trust automatic algorithm trading platform an interesting bet. We are excited to work with team Kuants and believe that the use of algorithms by fintech firms has just started and will certainly reach the zenith in next few years," said Pankaj Chopra.
The vision of Kuants is to make the domain of algorithmic trading, in its entirety, more accessible in the Indian markets. This domain is often marred by blockages like lack of hardware/software infrastructure, lack of technical knowledge, and low clarity on concepts.
"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 doesn't need to waste his time figuring out a way to develop his trading system," said co-founder, Kuants, Ayush Gangwar.
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