Kochi: Nikhil Dharman belongs to that small group of brave youths of Kerala who dared to launch their business ventures at a time when startup was not a buzzword in the state. Nikhil, along with Anoop Balakrishnan and Arun Ravi, started his AI venture Agrima Infotech, which was acquired by BigBasket in 2022. As he launches his second startup following the acquisition, the ecosystem must be watching it keenly.
Nikhil has joined hands with T R Shamsudheen, a first-generation entrepreneur, for his second venture- Algorithma Digitech Private Limited- a fintech company that has its office at the Kerala Startup Mission (KSU) campus in Kalamassery, Kochi.
The startup unveiled its latest innovation, FIN-GPT.ai, a financial intelligence platform, at the Global Startup Huddle 2023, held in Thiruvananthapuram recently.
FIN-GPT.ai is an AI co-pilot for investors, akin to the widely recognised Bloomberg Terminal. It's developed to help investors and business enterprises accelerate decision-making through financial intelligence, consolidating fragmented financial data from diverse sources into a unified, accessible platform, and serving as a comprehensive solution for both business enterprises and retail investors.
The innovative platform uses Gen AI to help financial analysts, investment firms and even retail investors make more informed financial decisions in a microsecond, the company founders said in a statement.
“FIN-GPT.ai is going to be a game changer. It will serve as a powerful platform for financial enterprises, enabling better, faster decision-making at an affordable price. The initial response from both the investor community and retail investors is very encouraging," Nikhil, co-founder and CTO, Algorithma, said.
FIN-GPT.ai delivers insightful financial data and information in real time by enabling users to search for any company, industry, trend, or topic across millions of premium external documents or the platform's proprietary internal content. This encompasses a thorough scan of company filings, event transcripts, broker research reports, news and news articles, trade journals, regulatory documents, press releases, equity research and more. The startup also has another product named Smartbasket which helps first-time stock market investors with advice from SEBI-registered advisors.
The angel investors behind Agrima, the startup thaf BigBasket acquired, have also put in Rs 1.5 crore in Algorithma as pre-seed fund. The company aims to draw its revenues from the pay-per-use model as well as from sub-broking. “We don’t recommend any stocks to our subscribers. It’s only a platform for facilitating research and safe trading,” Nikhil said.
While Nikhil drives the company with his experience as an AI engineer, his co-founder Shamsudheen, brings strong business acumen to the fintech company leveraging his expertise in the stock market spanning over a decade. Incorporated in September 2022, Algorithma has over 15 staff members.
(Startup Saturday is Onmanorama’s weekend series featuring promising startups from Kerala. Find the previous stories here)