Irish-based AI startup Inspeq has secured $1.1 million in funding to fuel its international expansion and solidify its position in the Generative AI (Gen AI) development space.
Inspeq offers a comprehensive platform designed to address the entire LLM (Large Language Model) development lifecycle. Their platform focuses on:
- Testing and Evaluation: Identifying potential issues and biases before deployment.
- Monitoring and Performance: Ensuring optimal performance and resource utilization.
- Guardrailing B2B and Enterprise AI Applications: Mitigating risks and maintaining ethical compliance.
The company boasts significant improvements in LLM development:
- Reduced Security and Hallucination Issues: Inspeq claims to cut security vulnerabilities and nonsensical outputs by up to 80%.
- Enhanced LLM Performance: Their efforts reportedly lead to a 90% improvement in overall LLM performance.
This funding round, led by Sure Valley Ventures, will allow Inspeq to:
- Expand its Team: The company plans to grow its Applied AI, Data Science, and Full Stack Development teams.
- Go Global: Inspeq will establish a presence in London and India, adding to their existing operations in Ireland.
The round also drew participation from prominent figures in the tech industry, including angel investors like former Meta Ireland head Rick Kelly and unicorn founders Gaurav Singh Kushwaha and Prateek Dixit.
“Recent incidents with production-grade Gen AI highlight the challenges businesses face,” said Inspeq CEO Apoorva Kumar. “Inspeq provides a safety net, ensuring trust, ethics, and optimal performance for businesses deploying Gen AI.”
Inspeq’s founders, with experience at tech giants like Microsoft and Amazon, bring a wealth of knowledge to the table. This funding positions them to become a key player in ensuring the responsible and effective development of Generative AI technologies.
