Bengaluru based start-up Neotrade Analytics is involved in distributing the real time data to the traders as well as trading bodies. The company has managed to rise the first institutional funding worth Rs 1.5 crore (approx. $230K) from the start-up incubator Rainmatter. The startup incubator Rainmatter provides equipped workspaces, funding and mentorship to the technology start-up companies. The funding provided by the same ranges fro $100K to $500K.
The start-up Neotrade Analytics was started by a couple of engineers Sharath Kumar S and Vivith Kumar Lakshminarayan. The one year old company lets traders and individuals, especially engineers to receive as well as access the real time market data on the programming language platform that they prefer. Some of the popularly preferred programming language platforms include Python, C++, AFL, C, Perl, etc. The fund that the company has got will be used to finance to build a comprehensive digitized trading solution product. This product will help the traders to build the strategies and to double the marketing efforts.
Lakshminarayan of Neotrade stated that this product will help them crunch, examine and decide when they need to make the investment in markets. Neotrade is touted to have over 1,000 traders who are registered with it and also it is an authorized vendor of the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).
One of the main challenges that were faced by the engineers is that they cannot really make all their trading skills the best ones. This is because they lack sufficient access to market the data on the programming language platforms that they prefer the most. This was claimed by Nithin Kamath, the Founder as well as Chief Executive Officer of the online discount brokerage company Zerodha. It is Zerodha that started Rainmatter. The fund has earlier invested in Tradelabs.