Founded in 2022 by Gaurav Agarwal, it has developed a platform called RagaAI DNA which enables AI-powered companies to test automation use cases
RagaAI claims to support LLMs, images/videos, 3D, audio, NLP and structured data and reduces 90% of the risks while accelerating AI development by more than 3x
The startup caters to a number of Fortune 500 companies hailing from industries including aerospace, automotive, insurance, finance, healthcare, ecommerce, etc; across the US, Europe and India
RagaAI, an automated testing startup which helps enterprises mitigate AI risks, on Tuesday (January 23) said it has raised $4.7 Mn (around INR 39 Cr) in a seed funding round led by pi Ventures.
The round also saw participation from a clutch of global investors, including Anorak Ventures, TenOneTen Ventures, Arka Ventures, Mana Ventures and Exfinity Venture Partners.
The fresh funds will be deployed for research and development as well as client base expansion across the US and Europe, RagaAI’s founder Gaurav Agarwal told Inc42.
Founded by Agarwal in 2022, RagaAI claims to have built a platform called RagaAI DNA which enables AI-powered companies to test automation use cases and detect the shortcomings, diagnose and fix those instantly.
The startup already offers over 300 different tests to help users triage the issue down to its root cause. It is designed to identify issues such as data drift, edge case detection, poor data labelling quality, bias in the data, lack of model robustness or adversarial attacks.
RagaAI supports LLMs, images/videos, 3D, audio, NLP and structured data and reduces 90% of the risks while accelerating AI development by more than 3x.
Agarwal said, “Our vision is to liberate AI from the constraints of human interventions, and foster continuous improvement. In the era where AI dominates, our mission at RagaAI is to tackle the paramount challenge of ensuring the quality and consistency of AI applications.”
He further added that focused on providing innovative testing solutions, the startup aims to unlock the full potential of the AI revolution, paving the way for a future where AI thrives with trust, reliability, and excellence.
RagaAI plans to increase its revenue by 10X, and the employee count to 100 from 40 in the next two years.
The funding comes at a time when the deeptech and AI-based startups are creating a buzz among the tech startup investors.
Earlier this month, Bengaluru-based Upekkha announced the first close of its AI-focussed fund at $15 Mn with a target of $40 Mn.
According to Inc42’s Indian Tech Startup Funding Report 2023, the deeptech startups secured an overall funding of $496 Mn+ in the year, a rise of $397 Mn in 2022.
