LLUMO AI, an AI optimisation company tackling the high costs and performance challenges of Generative AI, today announced that it has raised $1 million (₹8 crore) in seed funding. LLUMO AI empowers AI businesses to reduce Generative AI costs by 80% and comprehensively evaluate LLMs in real-time without requiring ground-truth data.
The seed funding will support LLUMO AI's expansion into the US market as well as the development of an enterprise-grade platform that seamlessly integrates with existing AI workflows.
The funds will enable LLUMO AI to address the pressing challenges businesses face when integrating Generative AI and Large Language Models (LLMs) into their products and services.
As more companies seek to leverage the potential of Generative AI, they often encounter two significant hurdles: the inability to assess LLM performance in real-world scenarios and the soaring costs associated with LLM usage.
These challenges are particularly pronounced when implementing Retrieval-Augmented Generation (RAG) pipelines, which can increase the prompt token size by 5 to 10 times. After encountering these issues with their previous product Instaminutes, the Llumo team spoke to over 100 AI companies and found that these problems were widespread.
Determined to solve these problems, the LLUMO AI team developed a platform that empowers businesses to reduce Generative AI costs by up to 80% and gain unparalleled visibility into LLM performance.
At the core of LLUMO AI's solution are two proprietary tiny LLMs trained on millions of data points. The first model efficiently compresses prompts, significantly reducing costs while maintaining output quality.
The second, Eval-LM (Evaluation Language Model), assesses LLM-generated output without requiring ground truth data. By leveraging these innovative models, businesses can optimise their LLM implementations, achieve faster iterations, and drive growth without straining their budgets.
The investment round was led by SenseAI Ventures, an AI-focused venture capital fund, with participation from India Quotient, AumVC, Venture Catalyst, IIM Indore Alumni Angel fund, and US-based angel investors.
Our platform not only addresses the critical challenges of cost and performance but also empowers our customers to make data-driven decisions that accelerate growth and transform customer experiences. With this funding, we are one step closer to realising our vision of making Generative AI accessible, affordable, and impactful for businesses worldwide, Shivam Gupta, founder of LLUMO AI, said.