Startup Market Pulse announced Tuesday that it had raised $1.2 million in pre-seed funding from high-net-worth individuals, including Nitesh Mittersain, its founder and managing director. Nazara Technologies; Pidilite Industries’s director Apurva Parekh and Epacific Services India’s director Aditya Goel.
According to the startup, the funds that are generated will be used for broking stock business. In a statement, the company said that its trading platform has successfully completed beta testing and will be launched in August.
A 300% profit margin and no marketing have enabled the Company to build and operate its data and analysis. The flagship product has downloaded around 3 million, 600k MAUs, and 260K DAUs, with a time of engagement of over 55 minutes a day.
According to Aditya Goel, a board member, and lead investor, “It has been fascinating to watch Amit (Dhakad) and Hiral (Jain) create a profitable business from nothing. Continuing the partnership with them in a new way and into stock broking is something I’m looking from a long period.”
Declaring about the company’s plans, Dhakad said, “The company will build our first institutional round to gear up the development of this technology that is disruptive and lead the upcoming industry’s evolution”.
Why this is important?
The top three brokers trade 90% of their trades through their mobile apps. The problem with these apps is that they only serve as execution channels, ignoring the possibilities and advancements technology can bring to the trader community. As a result, Market Pulse will fulfill genuine possibilities for the community and make significant progress.
Nitish Mittersain, Aditya Goel, and HNIs have invested $1.2 million in Market Pulse, a trading tech startup. A previous funding round of $1 million had been secured for Market Pulse’s data and analysis business by Kishore Ganji, Rashmi Kwarta, and Umashankar Nistala.
Market Pulse is a stockbroker startup that aims to reinvent the type of technology that will help the trader’s community. Originated in Mumbai, the startup states it has built and operates its company data analysis arm at a profit margin of 300%.
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