Auquan AI Innovator for Financial Services, located in the UK, secures $3.5 million in venture money. Neotribe Ventures was the lead investor in the round, and Stage 2 Capital and Episode 1 also participated.
The funds will be used by the business to further the RAG AI-powered intelligence engine’s development and increase its market share in the US.
For clients in the financial services sector, such as UBS and Federated Hermes, Auquan transforms unstructured data into actionable insight under the direction of Chandini Jain, co-founder and CEO.
For more than 500,000 privately held businesses, equities, infrastructure projects, and other entities, professionals in investment banking, private equity, asset management, and other types of finance use its SaaS-based Intelligence Engine to identify investments insights, risks, research long-term viability or ensure ongoing regulatory compliance.
The business, which recently formally revealed its retrieval augmented generation (RAG) AI-powered Auquan Intelligence EngineTM, is based in London with additional offices in New York and Bangalore, India.
Auquan previously raised $1 million in pre-seed funding and was a part of the 2018 TechStars London cohort. RAG AI (retrieval augmented generation) is used by Auquan’s Intelligence Engine to swiftly identify hidden insights that have financial significance.
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