Algorithm-based investment technology start-up, Octanom Tech has raised an undisclosed amount at a pre-money valuation of $2.2 million in its pre-seed round led by Shankar Vailaya, ex-director of Sharekhan Ltd, Nitin Gupta, founder and CEO of Asymmetrique and other angel investors.

Founded by the former MoneyFlix CEO, Rahul Ghose, Octanom aims to empower retail traders and investors who have displayed resilience and interest in looking after their money since the pandemic. 

With the new funds, the company is seeking to launch three platforms in the investment technology place in India and the US over the next two years. Additionally, the company will invest in developing its core technology and wants to hire skilled staff to strengthen the leadership team. 

Talking about the latest development, Ghose said, “The only real tech advancements over the last decade in the financial markets have been new online trading platforms and automated order placement software. Octanom Tech, through its unique range of proprietary tools and technology, plans to introduce platforms that will radically ‘rive’ through this space.”

We want to ensure that the company's mission – ‘For the love of retail’ is upheld in whatever we create and is always part of our core driving force. Towards this endeavor, we are excited to partner with our investors who have an enviable track record of building and nurturing institutions,” he added. 

“The Octanom team is making proprietary Algorithmic, AI-based research advisory and innovative investment avenues accessible to the retail participants like never before,” Shankar Valiya said while addressing their decision to invest in the company.