Stock market algorithms player Yobee raises funding

Mumbai-based Yobee, which designs proprietary algorithms to discover new and unique patterns in the stock market, has raised an oversubscribed first round of ­­­funding. It will soon launch mutual funds for traders. The fintech venture is backed by Dheeraj Jain of Redcliffe LifeTech; Ruchirans Jaipuria of Jaipuria Group; Shashidhar Jayaraman of Ask Pravi and others. Yobee will use the funds to further build out its technology stack and create multiple distribution channels by partnering with market intermediaries like brokers and platforms.