The financial services based AI data analytics startup Auquan has raised  $4.5 million in its initial investment round, which was headed by Peak XV’s Surge and included current backer Neotribe Ventures. With this investment, Auquan now has $8 million in total seed funding.

According to the company’s press statement, the additional funding will be utilized to grow its technical staff and develop its AI agent architecture and Retrieval-Augmented Generation (RAG), which are essential for automating deep work.

Chandini and Shubham Jain founded Auquan in 2016 with the goal of automating intricate, multi-step knowledge workflows in the financial services industry. Auquan regularly generates accurate, thorough, and timely insights that users can trust thanks to its AI-driven architecture and RAG. Many leading international asset managers, investment banks, and private equity firms use its platform to speed up analysis, improve decision-making, and boost operational effectiveness.

The RAG-based solution from Auquan is especially made to handle intricate knowledge workflows by decomposing them into discrete tasks. The architecture is specifically designed to handle complex procedures and produce results that satisfy the exacting requirements of users.

Expressing to this vital funding round, Chandini Jain, Co-founder and CEO of Auquan says, “The financial world Is a fast-paced, high-pressure environment where time is the most valuable asset. Auquan empowers financial professionals to reclaim their time by automating the mundane tasks that drain productivity on an industrial scale”.