26/08/2024
LLUMO AI, a Noida-based AI optimisation , raised $1 million in a seed fundraising round headed by SenseAI Ventures, an AI-focused venture capital fund.
Other in the round included India Quotient, AumVC, Venture Catalyst, the IIM Indore Alumni Angel Fund, and a number of angel investors headquartered in the United States.
LLUMO AI, founded in 2023 by Shivam Gupta and Akshat Anand, intends to address the rising price and performance difficulties of Generative AI and (LLMs).
The startup enables organisations to cut costs by up to 80% while gaining visibility into LLM performance.
It focusses on addressing two significant issues that experience when incorporating Generative AI and LLMs into their goods and services. These include the high costs of using LLM and the difficulty of evaluating LLM performance in real-world circumstances.
The business discovered that these difficulties are especially prevalent in Retrieval-Augmented Generation (RAG) pipelines, where the prompt token size can increase by five to ten times, resulting in rising expenses.
To overcome these difficulties, LLUMO AI created a platform with two patented small LLMs trained on millions of . The first model compresses suggestions to considerably reduce costs while keeping output quality.
The second model, Eval-LM (Evaluation Language Model), enables enterprises to evaluate the performance of LLM-generated output without the use of ground truth data.
This method enables businesses to optimise their LLM deployments, achieve faster iterations, and without exceeding their budget.
"We founded LLUMO AI with a clear mission: to democratise access to generative AI and assist businesses in realising its full potential. Our platform not only handles the essential concerns of cost and performance, but it also enables our customers to make data-driven decisions that drive growth and enhance . "With this funding, we are one step closer to realising our vision of making generative AI accessible, affordable, and impactful for businesses around the world," Gupta said.
LLUMO AI intends to use the collected to help expand into the US market. In addition, the financing will help to establish an enterprise-grade platform that will interact easily with existing .
The platform intends to bridge the gap between proof-of-concept (POC) and full-scale production, allowing for the fast deployment of in enterprises across a variety of industries.
"According to our research at SenseAI, the two most significant barriers to implementing LLMs are cost and quality. LLUMO AI's inventions tackle each of these difficulties square on. We support founders like the LLUMO AI team who create game-changing technology and tools to address major AI challenges, which is ideally aligned with our focus on investing in AI applications and tools," stated Rahul Agarwalla, General Partner at SenseAI Ventures.
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LLUMO AI
