November 1, 2024: Auquan, has chalked out strategic growth plans, and will deploy an additional $4.5 million to expand its engineering talent in Bengaluru by hiring in AI/ML and streamlining knowledge-intensive financial workflows using AI.
The firm automates deep work in financial services using AI to streamline deal sourcing, due diligence, risk monitoring, sustainability/ESG, and compliance.
Chandini Jain, Co-founder and CEO of Auquan says“The financial world is a fast-paced, high-pressure environment with time as the most valuable asset. Auquan empowers financial professionals to reclaim their time by automating the mundane tasks that drain their productivity on an industrial scale.”
“Three years from now, the brightest minds in finance will look back and wonder why they ever had to spend days sifting through hundreds of documents and typing up lengthy reports and memos, with the power of AI,” Chandini added.
The firm plans to accelerate the development of Retrieval-Augmented Generation (RAG) and AI agent architecture to cater to the financial sector’s most complex workflow challenges.
Auquan to disrupt deep work productivity
Swaroop Kolluri, Founder and Managing Partner of Neotribe, said “Auquan’s remarkable growth and customer traction validates our belief that they’re uniquely positioned to solve a critical challenge in finance: freeing highly skilled teams from the grind of wading through noisy data, performing undifferentiated work to support high-impact decisions. We’re thrilled to support Auquan as they revolutionise deep work productivity and decision-making in finance.”
Auquan serves to leading global asset managers, investment banks, and private equity firms such as UBS, Federated Hermes, and BC Partners for analysis, decision-making, and operational efficiency. Auquan’s RAG-based architecture helps to handle deep knowledge workflows by cutting them into specific tasks.
The company provides data on over 550,000 global public and private companies and access to over two million public and subscription data sources. This data, available in over 65 languages, includes native processing for the 30 largest economies and essential supply chain hubs like India, the US, the UK, Europe, Latin America, Southeast Asia, and China.
The seed funding round led by Peak XV’s Surge, had participation from Neotribe Ventures. With this, the London-based startup has raised a total seed funding of $8 million.
