Posted by Mumbai: NSE Data & Analytics Ltd. (NSE Data) has announced an undisclosed sum of investment in a tech startup Capital Quants Solutions (CQS).
The tech startup CQS is also called as CapQuant provides software products using Machine Learning (ML) and Natural Language Proficiency (NLP).
These products help in extracting and analyzing structured information and building machine learning models. These models are based on extracted data from complex unstructured financial documents.
NSE Data & Analytics a 100% subsidiary of the National Stock Exchange of India (NSE).
According to NSE MD and CEO Vikram Limaya, the investment in CQS is a part of NSE’s investment program in the fields of Analytics, Digital, Robotics, Security, Artificial Intelligence, etc. Where startups require early-stage financing and incubation to expand and realize their full potential.
“Through such partnerships with select startups, which have demonstrated technological potential, NSE Group aims to further strengthen its technology leadership,” said Limaya.
Further, “These fields present innovative solutions and breakthrough technologies. That could potentially change the capital markets’ future in India and the world,” he continued.
“The investment from NSE is a big landmark event in the journey of CQS. We are delighted to be an investee company of NSE group. We see a lot of synergies between what we are offering through our product FinStinct and the NSE Data’s business,” said Pravin Lal, Founder – CQS.
“Our relationship with the exchange started with NSE being a customer for our flagship product, FinStinct. Over time this relationship has grown not just in terms of the engagement size but also grown at a strategic level,” added Lal.
“Today, we offer cognitive automation to various functions and divisions within the exchange. We also have the exchange as an investor in us. The entire FinStinct team is quite excited to start this journey with NSE Data,” informed Lal.