Pinegap, an AI-powered equity research platform headquartered in New York with a technology center in Bangalore, has successfully raised $8 million in a Series A funding round. The round was led by Stellaris Venture Partners.
Pinegap, an AI-powered equity research platform headquartered in New York with a technology center in Bangalore, has successfully raised $8 million in a Series A funding round. The round was led by Stellaris Venture Partners.
Existing investors, including Inventus, Silicon Valley Quad, and DeVC, also participated in this funding round. Pinegap stated that it plans to use the raised funds to develop its marketing and sales operations, expand its engineering team, and create an internal group of former equity research analysts.
According to an official statement, Pinegap automates the daily workflows of institutional buyers' analysts to scale across hedge funds, long-term mutual funds, and Registered Investment Advisors (RIAs) in the United States.
The startup, founded in 2024 by Ankit Varmany and Dipak Sharma, collaborates closely with fund teams to understand their research processes, investment theses, and workflows. The company then creates custom AI agents tailored to each fund's investment style, private data, and output formats. These agents operate on a 'push-based' principle: results are delivered to the analyst's inbox on a schedule or when market events trigger them, rather than requiring a request.
Pinegap reported that it has already deployed over a thousand such agents for more than one hundred institutional clients, generating over 50,000 research reports monthly.
Dipak Sharma, co-founder and CEO of Pinegap, noted: 'Every workflow we automate—whether it's preliminary revenue review, company summaries, or thesis trackers—gives analysts back time they can spend on what only they can do: judgment, conviction, and decision-making. Pinegap is not a chatbot or a search tool. It is a platform built around how a fund actually operates, customized to its data, its format, and its investment style.'
Pinegap emphasized that institutional asset managers are facing an era characterized by increasing data volumes, shorter research cycles, and growing pressure on returns. Therefore, Pinegap is developing AI infrastructure that allows analysts to use their time more effectively, transforming the most repetitive parts of the research process into a self-sufficient mechanism.
Convex has raised $57 million in a Series B funding round. These funds are planned to be used to scale the development of its backend platform, which is specifically designed for artificial intelligence. The financing was led by Insight Partners, with participation from Etna Labs and all previous investors, including a16z and Spark Capital.
Thanks to this Series B round, Convex's total raised capital has reached $110.5 million. The company stated that it intends to use this money to improve its core platform, enhance tools for agentic development, and increase its staff in its San Francisco office.
Founded in 2021 by former Dropbox infrastructure engineers, Convex offers developers a fully integrated backend platform. This platform combines databases, functions, workflows, search, synchronization, authentication, and file storage into a single solution built for software development.
The fundraising comes amid the trend towards AI-powered coding and autonomous development tools. Convex believes that developers need infrastructure capable of handling the increasing complexity of applications while maintaining a high level of reliability.
The company posits that traditional backend infrastructure struggles to support the growing use of AI coding agents. According to the company, AI-generated applications based on standard databases can subtly introduce data errors that only manifest after deployment.
Internal testing revealed that 90% of AI-built applications running on traditional databases encountered data corruption in real-world operating conditions. In comparison, applications developed on the Convex platform passed the same tests without any failures.
Convex's backend includes built-in ACID transactions, end-to-end type checking, real-time subscriptions, and TypeScript support. These features reduce the need for manual integration of multiple services for developers and increase application reliability. Furthermore, Convex packages search capabilities, workflow automation, authentication, file storage, and retrieval-augmented generation functions, allowing AI applications to be enriched with organization-specific knowledge.
The platform has gained significant traction among developers building AI-based software. Convex currently supports nearly two million applications created by about 500,000 developers worldwide. The company also reported over 1.2 million weekly downloads from npm.
Convex's clients include OpenAI, Tripadvisor, Solana, Zapier, and Reducto. These organizations use Convex to simplify backend development while ensuring scalable, reliable performance for their applications.
Insight Partners noted that the growing adoption of AI coding assistants has exposed weaknesses in traditional software infrastructure. The investment firm believes that Convex provides developers with a more robust foundation where backend components function cohesively without the need for complex configuration.
Convex plans to use the new funding to accelerate product innovations amidst the transformation of software engineering influenced by AI. The company will direct funds toward creating new tools that simplify application development for both developers and AI agents that build software.
The company will continue to provide highly reliable backend products supporting increasingly complex AI-based applications globally. Convex is convinced that stable backend infrastructure is becoming critically important as artificial intelligence generates large volumes of application code.
Instead of combining disparate components, Convex offers a single unified platform, which effectively reduces complexity and prevents software bugs. The raised funds will strengthen Convex's engineering team and significantly expand its global developer ecosystem and platform capabilities. With fresh capital and a growing customer base, Convex aims to solidify its position in the evolving AI development infrastructure market, making the creation of reliable software faster and easier for both human developers and AI agents.
Multiplier has successfully raised $35 million in a Series B funding round. These funds are intended to scale its artificial intelligence-powered professional services platform. The General Partnership led this round, with existing investors Ribbit Capital and Lightspeed Venture Partners also participating.
The acquired investments will be directed towards acquiring additional specialized firms that provide professional services. Furthermore, they will help the company grow its technological and operational teams in response to the increasing demand for AI-based business services.
Multiplier operates on a permanent holding company model. By acquiring existing enterprises, the company allows them to retain their names, management, and a significant degree of autonomy. Instead of replacing people with artificial intelligence, Multiplier creates AI-based products that enhance efficiency and the quality of customer service.
Founder and CEO Noah Pepper stated in a company blog post that AI should serve as a tool to empower working professionals, not replace them. He believes that AI tools allow specialists to dedicate more time to tasks requiring judgment by eliminating routine work.
Multiplier integrates its engineering teams directly into the acquired firms. The company has also hired over 30 technologists whose work, together with subject matter experts, leads to the creation of AI tools tailored to the needs of specific businesses. Since the companies using this technology are not exclusively owned by third-party software developers, Multiplier employees have access to client and supplier databases, which, according to the founders, means 'access to clients, products, and processes.'
The company's model is focused on industries where growth is limited by expertise. Many professional service firms rely heavily on experienced practitioners and manage information through disparate systems. Multiplier believes that AI can automate preparatory and routine tasks, leaving final decisions to qualified specialists.
Since its inception, the company has completed eight acquisitions, five of which were closed within the last year. It also has four other firms that have signed letters of intent. In total, the company's network serves clients in more than 10 countries.
The latest investment coincides with the appointment of a senior executive. This person will oversee finance, operations, partnerships, personnel, and the expanding San Francisco office. The company believes this approach ensures more effective scaling while preserving valuable client relationships and professional experience over time.
Allen Shim, former CFO of Slack, now holds the positions of President and Chief Financial Officer at Multiplier. The company plans to use the funds to effectively build a scalable technological base, team, and operational process architecture. Shim previously led the successful initial public offering of Slack before its acquisition by Salesforce.
According to The General Partnership, accounting and other professional services markets continue to face capacity constraints despite growing demand. The investment firm is convinced that Multiplier's approach allows trusted specialists to serve more clients without compromising service quality.
The new capital will primarily go towards additional acquisitions and further development of proprietary AI solutions. Multiplier intends to develop its specialized firms and improve its technological capabilities. The company's investment approach differs from traditional 'buy and build' strategies, where founders of acquired companies are completely replaced after the acquisitions. Instead, founders remain in leadership roles, receiving continuous support in the form of long-term capital and operational management.
Antares, a company developing advanced nuclear microreactors for military and space applications using high-efficiency compact reactor technology, has raised $470 million in Series C funding. These funds were secured through a combination of equity and debt capital.
The round was co-led by Paradigm and Caffeinated Capital with participation from several strategic investors. Additional participants included Point72 Ventures, Shine Capital, and Industrious Ventures, as well as other global institutional investment firms. The financing comprised $370 million in equity capital and $100 million in debt capital, designated for commercial expansion.
Antares plans to use the raised capital to transition from reactor demonstrations to full-scale commercial deployment across various markets. This funding follows a significant technical achievement by the company in nuclear reactor development this year.
Antares became the first private company to design a non-water nuclear reactor that demonstrated criticality after more than forty years. The Mark-0 reactor achieved this milestone at Idaho National Laboratory in the United States. The company intends to direct the capital toward developing its power-generating Mark-1 reactor, which is expected by 2027.
Furthermore, the funds will be used to improve manufacturing capabilities and processes, supporting existing defense clients under government programs. This includes work on the U.S. Air Force Advanced Nuclear Power Program initiatives. The funding also supports the U.S. Navy expeditionary energy program and related advanced energy projects.
Chief Executive Officer Jordan Bramble stated that Antares has successfully proven the concept of its innovative nuclear technology. He added that the company will now focus on preparing for commercialization and broader market adoption. The investments support collaboration with government partners in creating reliable energy systems that do not require refueling for six years.
Antares' compact nuclear microreactors are designed to provide continuous power supply in locations where traditional energy infrastructure is difficult to maintain. These systems target military bases and space applications requiring reliable long-term power. The company's reactors are designed to operate autonomously for years, reducing dependence on vulnerable fuel supply chains, which is becoming increasingly relevant as governments strive to create more resilient energy infrastructure for defense operations.
According to the company, the latest funding will help meet the deadlines set by Executive Order 14299, which requires an operational reactor on an inland military base by September 2028.
Investors cited Antares' recent engineering successes as a key reason for their support. Paradigm specifically highlighted the successful operation of the company's factory microreactor and its transition to large-scale deployment. Caffeinated Capital also noted Antares' progress in reactor development, client acquisition, and supply chain strategy. The firm believes that the company's focus on defense clients and long-term operational reliability positions it well in the growing advanced nuclear energy sector.
Founded in 2023, Antares has rapidly expanded its operations in locations such as California, Idaho, and South Carolina. The company develops nuclear energy systems capable of providing safe and sustained power for defense and strategic missions while reducing reliance on traditional energy sources.
