Bengaluru-based startup Neotrade Analytics which was started by two engineers – Vivith Kumar Lakshminarayan and Sharath Kumar S in 2014, has raised its first institutional round of funding of Rs. 1.5 crore. The investment was led by startup incubator Rainmatter who provide equipped workspaces, mentorship, and funding ($100-500K) to technology startups. Rainmatter had previously invested in Tradelabs.
The raised funding will be used to build a comprehensive digitized trading solutions product to help traders build strategies and double up on marketing efforts.”So it enables them to crunch, analyse and decide when exactly they need to invest in markets,” said Lakshminarayan.
Neotrade enables traders and individuals to receive and access real time market data through their preferred programming language platforms such as AFL, C++, Python, Perl, C, etc. It is an authorized vendor of NSE (national Stock Exchange) and BSE (Bombay Stock Exchange), and claims to have 1,000 traders registered with it.
The firm has three products – Amibroker, Metastock, and Ninjatrader, providing real-time data at affordable prices. Its pricing starts at Rs.1,000 per month for streaming intraday data for all F&O (futures & options) contracts and for all Equity and CDS (credit default swap) Contracts. The company is also offering free 3 days trail.