PALO ALTO, California and BANGALORE, September 22, 2015 /PRNewswire/ --
- Raised Undisclosed Amount by a Group of Angel Investors via LetsVenture
- The funds Will be Utilized to Build Mobile Platforms and Strengthen the Network of Video Bloggers
Amigobulls, a leading platform for stock market news, views and analysis videos, raised seed funding on LetsVenture led by Sharad Sharma - angel investor and co-founder of think tank, iSPIRT and Vijay Anand, VP and Managing Director at Intuit India. Vijay Anand will be joining the company's board of directors. The other key investors in the round include Mr. Mohandas Pai, ex Infosys CFO, Pallav Nadhani CEO of Fusion Charts, Singapore Angels Network, the GP group of Thailand and others.
The funds will be mainly utilized to build mobile platforms and strengthen their network of video bloggers.
Amigobulls.com was launched in mid-2013 by finance and technology experts, with a clear focus to serve US retail stock market investors, and is building a Youtube like platform where analysts and amateurs can create their own stock analysis videos.
Amigobulls uses patent pending big-data technology to provide investors with automatically generated analysis videos for thousands of popular stocks. Amigobulls provides not only news but also deep analysis on popular stocks listed on NASDAQ and NYSE to help investors in taking unbiased investment decisions.
Chandu Sohoni (CEO) along with Poorna Nayak & Mandeep Makkar founded Amigobulls in mid 2013. All the three founders of Amigobulls had earlier worked together at NewsHunt, India's largest mobile news application, and have decades of experience in various startups and MNCs.
"It is a unique combination of high quality financial analysis provided using big data and video technologies. Our current focus is on analyzing US technology stocks but the patent pending technology allows us to expand beyond tech-stocks and also beyond North American markets. New age investors have no time to read long analysis reports and have a clear preference for multimedia content. Amigobulls provides media rich stock analysis with actionable insights. After initial struggles in understanding US consumer behavior the team came up with many innovative ideas including the presentation of financial analysis in short video format. We also enabled financial analysts to create video blogs using our charts and videos. After these initiatives were launched in early 2015, user traction has significantly increased with the monthly active unique user base about to reach 100,000," said CEO & Founder, Chandu Sohoni.
Speaking of the fundraise, Chandu Sohoni says, "We are very happy to have some of the greatest minds from the Angel Investment and financial technology industry as our investors. LetsVenture provided us the platform to reach out to a specific set of investors who we felt will bring in great value during the early stages of this venture."
Sharad Sharma, says, "I have known Chandu Sohoni, the CEO of this startup for a while now. Chandu, the original co-founder of Newshunt, was instrumental in putting it on its current trajectory. With Amigobulls, he is going after yet another untapped segment and has all the pieces in place, showing good initial growth. It is obvious the opportunity is a big one and the Amigobulls team, supported by Poorna Nayak & Mandeep Makkar is well placed to shoot for leadership in this new category."
amigobulls.com, is your home for stock market news, views and analysis videos. Amigobulls was founded by finance and technology experts to provide investors with deep insights into technology stocks. Our experts work using latest big-data techniques to provide you with the most relevant information and analysis on technology sector. We believe in providing high-quality, independent news and analysis videos for every investor, wanting to invest in technology stocks.
For more information visit http://amigobulls.com/
LetsVenture is an online platform for startups and investors to facilitate angel and seed investments. Founded by Shanti Mohan and Sanjay Jha in 2013, LetsVenture has created about 5000+ connections to date. 50 Companies have raised funds on LetsVenture, aggregating to nearly $17 million. For more information, please visit http://www.letsventure.com
For further details, contact
Communications Lead - LetsVenture
SOURCE Amigobulls Inc.