RagaAI Raises $4.7 Million in Seed Funding Round Led by pi Ventures
- ByStartupStory | January 23, 2024
RagaAI, an AI testing startup, has successfully closed a $4.7 million seed funding round led by pi Ventures. The funding round also saw participation from global investors such as Anorak Ventures, TenOneTen Ventures, Arka Ventures, Mana Ventures, and Exfinity Venture Partners.
Gaurav Agarwal, CEO and founder of RagaAI, shared the company’s plans for the funding, stating, “These funds will be used in research and development, innovation, and to expand our customer base. Currently, we are a team of 40, our goal is to increase to 100 by recruiting professionals in diverse domains such as Data Science, Engineering, and Product.”
RagaAI is an automated testing platform designed for all types of AI, including GenAI. Its foundation models, known as RagaAI DNA, use automation to detect, diagnose, and fix AI issues instantly. The platform offers over 300 different tests to help users identify the root cause of issues, including data drift, edge case detection, poor data labeling quality, bias in the data, lack of model robustness, or adversarial attacks.
The platform is multimodal, supporting LLMs, images/videos, 3D, audio, NLP, and structured data. It aims to reduce risks by 90% while accelerating AI development by more than 3x. RagaAI has attracted Fortune 200 and Fortune 500 customers in the US, Europe, and India. Its pricing model is based on monthly usage subscriptions, with variations based on geography and industry.
Gaurav Agarwal highlighted RagaAI’s partnerships with industry leaders like Nvidia and Qualcomm US, emphasizing their deep collaboration in pushing the boundaries of AI innovation.
Manish Singhal, Founding Partner at pi Ventures, commented on the significance of AI testing in ensuring the reliability and ethicality of complex models in the expanding AI landscape. He praised RagaAI’s Drift detection technology, describing the platform as well-suited to address these critical challenges in AI deployments globally.
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