Subscribe to Our Newsletter

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn't arrive within 3 minutes, check your spam folder.

Ok, Thanks
Robinhood Acquires Pluto to Add AI Features for Its Investors
Photo by Tech Daily / Unsplash

Robinhood Acquires Pluto to Add AI Features for Its Investors

Robinhood investors can now utilize investment strategies tailored to their investment needs.

Henry Chikwem profile image
by Henry Chikwem

If you use Robinhood as a platform for your investments, you probably now have more reasons to stay consistent with it, as Robinhood announced on Monday that it has acquired an AI-powered research platform called Pluto Capital, Inc.

Founded in 2021, Pluto raised $4 million across multiple seed funding rounds, valuing the company at $12 million (pre-money), according to data from PitchBook. The startup was also backed by investors including at.inc/, Switch Ventures, Caffeinated Capital, and Maxime Seguineau.

Through this acquisition, Pluto will allow Robinhood investors to utilize tools for faster identification of trends and investment opportunities, help them with their investment strategies, and offer real-time portfolio optimization.

To ensure the success of the acquisition, Robinhood decided to integrate Pluto's founder, Jacob Sansbury, into the company to oversee Pluto's data analysis capabilities in line with the processing and interpretation of market and financial data using large language models (LLMs).

utu Acquires CardsPal in $33 Million Deal to Revolutionize Global Tax-Free Shopping
The travel industry has rebounded after the pandemic, with the World Travel and Tourism Council (WTTC) forecasting a recovery to 95% ($9.5 trillion) of pre-pandemic levels by 2023. But, the tax-free shopping sector has lagged behind in innovation, and the high cost of refund processing has limited the benefits

Pluto will also help Robinhood to customize its investment strategies for the individual user by accounting for factors like risk tolerance, investment goals, and historical behavior for more personalized recommendations.

This means that as a Robinhood investor, you will most likely have an AI tool or feature that will recommend the best investment strategy for you based on your risk tolerance, investment goal, and other unique factors.

Robinhood has confirmed that it is proud to work with Pluto and believes that together they can work to democratize finance and bring AI-powered tools closer to customers.

Investment platform Bodhi Tree acquires Allen Career Institute for $600 million
Bodhi Tree Systems, a joint-owned investment platform based in India, has acquired a 36% stake in Allen Career Institute in a $600 million deal. * The funding would be used to expand the startup’s services in transforming education through quality test preparation in India. * Founded in 1988, Allen Career is an
Henry Chikwem profile image
by Henry Chikwem

Subscribe to Techloy.com

Get the latest information about companies, products, careers, and funding in the technology industry across emerging markets globally.

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn’t arrive within 3 minutes, check your spam folder.

Ok, Thanks

Read More