Gurugram-based fintech startup, Kuants, which works on algorithmic trading has received angel funding of Rs 50 lakh.

Since its founding in October 2017, with a goal to increase accessibility to algorithmic trading, the startup has been working on a platform to help users easily understand and use algorithmic trading. The company’s platform will provide tutorials, a stock market simulator, investment strategies and an execution system, according to its website.

“We believe a lot more processes can be solved and made much easier in the domain of algorithmic trading in the Indian markets using technology,” co-founder of Kuants, Ayush Gangwar told Times of India. “With the aim of increasing the penetration of algorithmic trading in India at a nail-biting pace, we are developing complex systems and strategies so that the user doesn’t need to waste his time figuring out a way to develop his trading system.”

Kuants was founded by Gangwar and fellow IIT-Kharagpur graduate, Mohit Bansal to eliminate roadblocks to easily access algorithmic trading such as lack of hardware or software infrastructure, knowledge and concept strength. Investors in the round worth Rs 50 lakh are Pankaj Chopra and Ankush Gupta.

“We see a huge potential in Fintech space in India and trust automatic algorithm trading platform an interesting bet,” Pankaj Chopra said. “We are excited to work with team Kuants and believe that the use of algorithms by fintech firms has just started and will certainly reach the zenith in next few years.”

Funds from the investment will be put toward development of the company’s stock market simulator, its user interface and purchasing high-end servers.

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