Cloud automation startup OptIQ on Wednesday said it has raised $1.5 million (around Rs 12 crore) as a part of its pre-seed funding round from Better Capital and Carya Venture.
The round also saw participation from a clutch of angel investors including Akash Singh (Observe.AI), Akhil Bhiwal (Phyllo), Anil Advani (Inventus Law) and Vaibhav Raj Gupta (Airblack), among others.
The Palo Alto and Bengaluru-based platform plans to use the fresh funds to expand its workforce, scale up product portfolio and establish its go-to-market (GTM).
Founded by Keshav Murthy and Harsh Sahu this year, OptIQ provides an autonomous AI platform that creates and secures a scalable, compliant cloud infrastructure stack for startups and scaleups, it said in a statement.
“Big organizations like Google, Apple, Netflix and Uber can afford to put so much effort and resources into automation to play the roles of deploying, scaling, monitoring, and security compliance. They no longer have a devops team….hence OptIq offers the same quality solution to Developers in Software Companies,” said Murthy.
“DevOps is more crucial than ever before and at the same time companies are struggling to scale their teams with the right talent. OptIQ solves this by ‘productizing DevOps’ so companies of all sizes get the same level of DevOps automation as large companies but for a fraction of the cost,” said Vaibhav Domkundwar of Better Capital.
Quant and AI-driven investment advisor Wright Research has raised seed funding of $1 million (around Rs 8 crore) from Orios Venture Partners.
The Mumbai-based startup plans to deploy the fresh capital for business expansion, ramping up technology stack and accelerating its foray into institutional fund management.
Founded by Sonam Srivastava in 2019, Wright Research uses deeptech, AI and ML modules to invest using Quant research. It offers services in equity advisory, thematic portfolio subscription, mutual fund advisory and in algorithmic models for trading futures and options.
“The Indian market has myriad opportunities, which come and go dynamically, which is why well-researched and risk-managed quantitative investment strategies can really flourish here..,” said Srivastava.
“We are excited to partner…to provide a quant-based hedge fund approach to retail investors and believe that this represents an extremely sophisticated strategy in investments thus far available only to high ticket size investors,” said Rajeev Suri, managing partner at Orios Venture Partners.
