Mumbai-based Trading startup Market Pulse has raised INR 10 crore ($1.2 million) in pre-seed funding led by HNIs, and existing investors Nitish Mittersain, Apurva Parekh and Aditya Goel also participated in this round.
The company plans to utilize the fresh funds for its stock broking business. The startup completed the beta phase for its trading platform and is launching it to the public in the last week of August.
Market Pulse is a stockbroker to re-imagine trading technology for the new generation of traders. The Mumbai-based startup claims to have continued to build and operate its data and analytics arm at a 300% profit margin and zero marketing.
Founded in 2016 by Amit Dhakad and Hiral Jain, As the first step in this direction, our products are giving more and more people the confidence and tools to enter, survive and thrive in financial markets.
The company claims that its flagship charting product is the highest-rated stock market app on the Play Store, which has garnered over 3 million downloads and clocked 600K MAUs and 260K DAUs per user per day with an engagement time of 55 minutes.
MarketPulse had earlier raised a total of $750K from Kishor Ganji, Rashmi Kwatra and Umashankar Nistala for their data and analytics business.