Neotrade gets Rs 1.5 crore for big data push

BENGALURU: Neotrade Analytics, a Bengaluru-based startup that distributes real-time data to traders and trading bodies, raised its first institutional funding of Rs 1.5 crore from startup incubator and fund Rainmatter.

Started by two engineers, Vivith Kumar Lakshminarayan and Sharath Kumar S, the year old company enables traders and individuals, particularly engineers, to receive and access real-time market data on their preferred programming languages platform. It will use the fund to build a comprehensive digitised 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 is claimed to have over 1,000 traders registered with it and it is also an author ised vendor of the National Stock Exchange and Bombay Stock Exchange.

The challenges that engineers face is that they cannot really put their trading skills to test due to lack of access to market data on the platforms of their choice, said Nithin Kamath, founder and chief executive of online discount brokerage firm Zerodha, which started Rainmatter. The fund had previously invested in Tradelabs.