Giga ML Secures $3.6 Million to Assist Enterprises in Training and Deploying On-Premise LLMs
Three points you will get to know in this article:
- Giga ML enables enterprises to deploy robust LLMs directly on their servers, eliminating the need to send data to external servers.
- Giga ML’s offerings are attracting interest in industries like healthcare, legal, and finance for applications such as customer support and knowledge search.
- Giga ML raises $3.6 million in seed funding for their on-premise deployment of Large Language models (LLMs).
Giga ML, hailing from San Francisco and Bengaluru, recently secured $3.6 million in a seed funding round spearheaded by Nexus Venture Partners. Notably, this funding initiative garnered support from significant players such as Y Combinator, Liquid 2 Venture, 8vdx, and key angels including Garry Tan, President, and CEO of Y Combinator.
In just a span of three months, founders Varun Vummadi and Esha Manideep Dinne established GigaML. This innovative venture specializes in empowering enterprises to fortify the on-premise deployment of their Large Language Models (LLMs).
Businesses are actively exploring the integration of AI and language model (LLM)-driven solutions to address a variety of internal and external needs. Nevertheless, the current landscape presents formidable obstacles in the form of data security and compliance. A promising solution on the horizon is the rise of open-source models, positioning themselves as formidable candidates for widespread adoption by enterprises.
Giga ML empowers businesses to seamlessly implement formidable LLMs, rivaling the capabilities of GPT-4, directly within the confines of their servers. This not only streamlines operations but also ensures that sensitive information stays securely within the company’s premises, negating the necessity to transmit such data to external servers like those offered by OpenAI.
Giga ML’s X1 Large 32k model stands out as a meticulously pre-trained and fine-tuned advancement of the llama2 70B 4k model, meticulously crafted to elevate its performance and capabilities. In contrast to well-funded competitors such as Mosaic ML and Together AI, who have yet to fully fine-tune Llama 2 with a 32k context length, Giga ML proudly asserts that they have already reached this impressive technical milestone, according to statements from the startup founders.
Significantly, sectors like healthcare, legal, and finance are actively exploring the potential of Giga ML’s offerings, particularly in areas such as customer support, internal knowledge search, and code generation to enhance the productivity of engineering teams. Astonishingly, a mere 15 days after its public debut, the company’s website has swiftly secured its position as the fourth most-visited among startups in Y Combinator’s S23 batch, as proudly declared by the startup itself.
Managing a whopping $2 billion in assets, Nexus operates seamlessly as a united force spanning both the United States and India. Within its diverse portfolio, you’ll find notable entities like Postman, Apollo.io, MinIO, Fingerprint, Nx, Druva, Hasura, Observe.ai, Rancher, Pubmatic, Delhivery, H2O.ai, Aryaka, Kaltura, Quizizz, Sibros, TileDB, Turtlemint, Unacademy, Zepto, and Zomato.
In a recent milestone, Nexus successfully concluded its Nexus Ventures VII fund, securing an impressive $700 million. This substantial fund is earmarked for supporting startups in the realms of AI, SaaS, fintech, and commerce, both in India and the US. Interestingly, Y Combinator appears to be shifting its attention away from Indian startups, evident in the statistics from the Summer 2023 batch. This marks the lowest participation by Indian startups since 2020, painting a nuanced picture of the evolving startup landscape.
Giga ML, a startup based in San Francisco and Bengaluru, has raised $3.6 million in seed funding for their on-premise deployment of Large Language models (LLMs). Their solution allows enterprises to deploy LLMs directly on their servers, ensuring data security and compliance. Giga ML’s offerings have caught the interest of healthcare, legal, and finance organizations for applications such as customer support and knowledge search. The company’s website has gained significant traction within the Y Combinator startup community. With Nexus Venture Partners as their lead investor, Giga ML aims to become a leading provider of On-Premise Secure LLMs while prioritizing data privacy and integrity.
