Malted AI Secures £6M Funding for AI Innovation Expansion.
Malted AI, a leading AI firm based in Edinburgh, Scotland, UK, recently secured £6M in funding in a round led by Hoxton Ventures, along with participation from Creator Fund and angel investors. With this injection of capital, the company is positioned to accelerate its growth trajectory by investing in research, product development, and recruitment efforts. The team is set to double in size as Malted AI continues to refine its innovative approach to building AI models for enterprise clients.
Under the leadership of CEO Iain Mackie, Malted AI specializes in distilling the output of large models such as ChatGPT into smaller models that can be leveraged by organizations to address domain-specific challenges with greater efficiency and cost-effectiveness.
The company's proprietary technology has already garnered interest from financial and legal sector players, who have engaged with Malted AI's solutions in initial pilot programs. Looking ahead to the remainder of 2024, Malted AI is poised to expand its offerings further to a broader range of industries.
As Malted AI continues to push the boundaries of what is possible in the realm of AI model development, the firm's commitment to innovation and client success remains unwavering. By harnessing the power of AI to deliver tailored solutions for businesses across various sectors, Malted AI is solidifying its position as a trusted partner for those seeking to unlock the full potential of artificial intelligence technologies. With a strong foundation in place and a clear roadmap for growth, Malted AI is well-positioned to capitalize on emerging opportunities in the AI landscape.
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