Malted AI Raises £6M to Enhance AI Model Development for Enterprises

Malted AI is an AI firm that develops smaller, domain-specific AI models for enterprises, enhancing their efficiency and cost-effectiveness.

Source: Malted AI

Company Name: Malted AI
Location: Edinburgh, Scotland, UK
Sector: AI Software
Funding Details: Raised £6M in funding. The round was led by Hoxton Ventures, with participation from Creator Fund and several angel investors.

Purpose of Investment: To invest in research, product development, and recruitment as the company plans to double its team size.

Leadership: Led by CEO Iain Mackie.

Product: Malted AI specializes in distilling the output of large models, like ChatGPT, into smaller, more efficient models. These small language models (SLMs) are tailored to solve domain-specific problems, offering cost savings to enterprises.

About Company: Malted AI is an AI firm that develops smaller, domain-specific AI models for enterprises, enhancing their efficiency and cost-effectiveness. The company's technology is currently in pilot stages with financial and legal firms and plans further rollouts throughout 2024.

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