Dublin-based AI Start-up Inspeq AI secured a fund of $1.1M (INR 0.91 million) to expand its product development team and boost marketing and sales efforts in India, the UK, and Ireland.
Inspeq AI, an AI development platform provider, recently raised $1.1 million (about Rs 9.13 crore) in its seed round extension. The funding was led by Sure Valley Ventures (SVV), an Irish AI-focused venture capital firm, along with participation from Delta Partners as key investors.
Other investors encompass Plug and Play, along with distinguished backers such as Gaurav Singh Kushwaha (founder and CEO, BlueStone), Prateek Dixit (founder of Pocket FM), Rick Kelly (former MD at Meta Ireland), Cyril Treacy (former Vice President at Salesforce), and various other technology leaders.
Barry Downes, Managing Partner at SVV, expressed that upon meeting the co-founder, it became evident that they were the ideal founders for support. Their remarkable expertise in AI and dedication to fostering responsible AI adoption left a lasting impression.
The funding aims to support the maintenance of the company’s generative AI and improve its marketing and sales endeavours across India, the UK, and Ireland. It will help the existing LLM OPS platform which aims to speed up the Gen AI app’s development and reduce development expenses by as much as 70 percent.
With this additional capital, the start-up intends to grow its operations across the three nations and its team in Applied AI, Data Science, and Full Stack Development. The co-founder and CEO Apoorva Kumar hopes the fund will significantly bolster their work towards advancing AI safety and performance globally.
Established in 2023 by Apoorva Kumar and Ramanujam Mancharla Vijayakumar, Inspeq AI is a software development platform that deploys Gen AI across all stages. It assists in testing, assessing, monitoring, and improving performance of LLM apps like AI Conversational Bots. This diminishes security risks and instances of hallucination up to 80 percent according to the company.
Inspeq AI already boasts of working with global tech giants like HCLTech, helping them develop production-grade Gen AI applications to satisfy diverse customer needs. Securing the support of prominent investors brought them a step closer to achieving their goal of becoming the foremost global authority in secure and dependable AI technology, said Kumar.
