Auquan has secured $4.5 million in additional seed funding to further its mission of transforming financial services. This latest investment round was led by Peak XV’s Surge, with continued support from Neotribe Ventures, and raises Auquan’s total seed funding to $8 million. The company aims to leverage this new capital to grow its engineering team in Bengaluru, focussing on advancing its cutting-edge Retrieval-Augmented Generation (RAG) and AI agent architectures.
Auquan’s RAG-based Artificial Intelligence (AI) technology is designed to tackle complex, multi-step processes within the financial sector, automating routine and time-consuming tasks and allowing professionals to redirect their focus to high-impact strategic initiatives. By combining retrieval and generative models, Auquan’s RAG system efficiently gathers and synthesises crucial information, enabling faster and more precise workflow management for financial firms. This approach aims to boost productivity while enhancing operational accuracy across various financial tasks.
Commenting on Auquan’s progress, Swaroop Kolluri, Founder and Managing Partner, Neotribe Ventures, expressed enthusiasm about the transformative potential of the RAG-based AI.
“Their AI agent architecture is enabling financial professionals to focus on strategic, meaningful work while providing firms with a significant competitive advantage,” said Kolluri.
Chandini Jain, Co-founder and Chief Executive Officer (CEO), Auquan, highlighted the impact of their technology, envisioning a future where financial professionals are freed from the burden of repetitive tasks.
“Three years from now, finance experts will wonder why they ever had to sift through documents and draft lengthy reports manually,” Jain stated, emphasising Auquan’s potential to reshape productivity on an industry-wide scale.