GigaML Raises $3.6M To Help Enterprises Build LLMs As Powerful As GPT4 The funding round was led by Nexus Venture Partners, with participation from Y Combinator and Liquid 2 Venture, 8vdx and Prominent angels like Garry Tan (President and CEO YCombinator).
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Giga AI, the company that helps enterprises secure on-prem deployment of Large Language models (LLMs), has secured $3.6 million in seed funding. The funding round was led by Nexus Venture Partners, with participation from Y Combinator and Liquid 2 Venture, 8vdx and Prominent angels like Garry Tan (President and CEO YCombinator).
Enterprises are seeking to deploy AI and LLM-powered solutions for multiple internal and external use cases. However, data security and compliance are significant challenges today. Open-source models have emerged as strong contenders for enterprise adoption. Giga ML is the solution for enterprises to customize and deploy Large Language Models in a secure way. The platform allows businesses to deploy LLMs as robust as GPT-4 directly on their own servers—eliminating the need to send sensitive information to external servers like those of OpenAI.
Enterprises can take Giga ML's base model and further continue pre-training and fine-tune it to meet their specific needs. Giga ML also has its own inference optimisation algorithms, providing superior performance but also significant cost savings.
Giga ML's X1 Large 32k model is a pre-trained and comprehensively fine-tuned iteration of the llama2 70B 4k model, designed for enhanced performance and capabilities. While well-funded competitors like Mosaic ML and Together AI have not been able to fully finetune Llama 2 with 32k context length, Giga ML has already achieved this technical milestone.
Since its launch, Giga ML has seen overwhelming interest from a diverse range of enterprises, leading to the initiation of a waitlist. Most notably, healthcare, legal, and finance organizations are eager to leverage Giga ML's offerings. Just 15 days after its public launch, the company's website has already risen to become the fourth most-visited among startups in Y Combinator's S23 batch.
As of today, Giga ML sees enterprises adopt their platform for use cases like customer support and internal knowledge search and code generation for the productivity of engineering teams. However, they anticipate the use cases to widen, and LLMs will be adopted and implemented for almost every function within an organization in the coming months.
GigaML was founded three months ago by Varun Vummadi and Esha Manideep Dinne who graduated this year from IIT Kharagpur.
Varun Vummadi, says, "At Giga ML, our utmost priority is to ensure the privacy and security of enterprise data. Our goal is to position our company as the leading provider of On-Premise Secure LLMs, allowing enterprises to leverage the power of LLMs without compromising their data integrity.".
"We are excited to partner with the Giga ML team in their journey to securely enable enterprise adoption of LLMs; we have been big believers in the open-source ecosystem, and we think this will play out equally or even more strongly in the case of LLMs and enterprise adoption. However, there are significant challenges today around the lack of tooling and know-how of internal teams to put these models in production in a secure way. Giga ML has taken up on the challenge to become the defacto platform for LLM deployments in enterprises." said Abhishek Sharma, Managing Director, Nexus Venture Partners.
"GigaML is the missing layer that Llama 2 really needs - open source LLM models are a keystone to the future of AI we want to live in, free of lock-in to big tech or those beholden to big tech," added Garry Tan, CEO and President of Y Combinator.