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TV Mohandas Pai-backed 3one4 Capital bets on this artificial intelligence startup; here’s why

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3one4 Capital, which is backed by former Infosys CFO TV Mohandas Pai and managed by his sons — Pranav Pai and Siddarth Pai, has invested $1 million in Bengaluru-based artificial intelligence (AI)-led financial technology startup Streak AI Technologies in its pre-series A round. While 3one4 Capital led the round, the startup’s existing investor Rainmatter Capital also participated.

Streak AI, which is a platform to algorithmic trade without coding and creating, backtesting and deploying trading algorithms live in the stock market, will deploy capital primarily towards hiring, focus on the product roadmap and scale the existing customer base, the company said in a statement. The startup was started in August 2017 by Harsha Manohar, Vipul Divyanshu and Jayalakshmi Manohar.

The startup would allow retail investors to “visually see their strategies and validate them by understanding the risk around the strategies in an intelligible way,” Streak AI said.

Algorithmic trading has not been available to retail investors in India because it is highly based on coding and advanced understanding of financial concepts even as it contributes 35-40 per cent of the total annual turnover for institutional investors in India.

The startup allows investors to track all securities such as stocks and futures in NSE, currencies, MCX commodities seamlessly.

The startup has grown to more than 1.5 lakh users who have created and backtested over 13 million strategies on their proprietary platform and by deploying these algorithms live in the market, they have generated the “transacted value of more than $300 million on,” the company said.

The founders had launched Streak AI after exiting their startup Trialkart (online retail technology) co-founded in 2015. Streak AI will be “launching new products that will further improve retail participation in the stock markets and revolutionise this space.”

The startup had partnered with stock broking platform Zerodha to launch its product pan India in 2018. It had raised a seed round of $350,000 in 2017 from Rainmatter Capital.