AI-driven data analytics startup Auquan has raised $4.5 million in its seed funding round, led by Peak XV’s Surge, with participation from Neotribe Ventures. This brings Auquan’s total seed funding to $8 million so far.
The startup plans to expand its engineering team in Bengaluru, with the new funds aimed at growing this team and advancing its Retrieval-Augmented Generation (RAG) and AI agent architecture, essential for automating complex tasks.
“The financial world is a fast-paced, high-pressure environment where time is the most valuable asset," said Chandini Jain, co-founder and CEO of Auquan. “Auquan empowers financial professionals to reclaim their time by automating the mundane tasks that drain productivity on an industrial scale.
Three years from now, the brightest minds in finance will look back and wonder why they ever had to spend days sifting through hundreds of documents and typing up lengthy reports and memos, given the power of AI,” she added.
Similar to the advanced reasoning capability in OpenAI’s o1 model, Auquan’s RAG-based architecture is designed to manage deep knowledge workflows by breaking them down into discrete tasks, the company claims.
Moreover, it provides information on over 550,000 public and private companies globally, with access to more than two million public and subscription-based data sources.
This data, available in over 65 languages, includes native processing for the 30 largest economies and key supply chain hubs such as India, the US, the UK, Europe, Latin America, Southeast Asia, and China, the company said in a statement.
As per VCCEdge, the data intelligence platform of VCCircle, Auquan clocked over Rs 5 crore in revenue in FY23. Founded in 2019, the startup has been profitable since its inception.