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Robinhood Acquires Pluto to Improve Its AI Investing App

Robinhood Acquires Pluto to Improve Its AI Investing App

Investing app Robinhood has acquired AI-powered research platform Pluto Capital Inc in a bid to add more AI features for investors.

With Pluto, Robinhood adds tools to help identify trends and investment opportunities faster. Pluto also helps Robinhood users with their investment strategies and offers real-time portfolio optimization.

The deal will also see Pluto founder Jacob Sansbury join Robinhood, where he will help accelerate the trading app’s adoption of AI technologies.

Robinhood will also use Pluto’s data analytics capabilities to process and interpret market data using LLMs (large language models) that have real-time access to global financial data and users’ personal information.

In addition, Pluto helps Robinhood tailor investment strategies to the individual user by analyzing things like risk appetite, investment goals and historical behavior for more personalized recommendations.

Pluto was founded in 2021. The platform has raised $4 million through multiple seed funding rounds, valuing the company at $12 million. The startup was backed by investors including at.inc/, Switch Ventures, Caffeinated Capital and Maxime Seguineau.