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SenseAI Ventures leads $1 Mn round in LLUMO AI

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Artificial intelligence optimisation company LLUMO AI has raised $1 million (about Rs 8 crore) in seed funding round led by SenseAI Ventures along with participation from India Quotient, AumVC, Venture Catalyst, IIM Indore Alumni Angel fund, and other angel investors. The funds will be used to expand into the US market as well as the development of an enterprise-grade platform that integrates with existing AI workflows, LLUMO said in a press release. Co-founded in 2023 by Shivam Gupta and Akshat Anand, LLUMO weeds out the hassles of inability to assess LLM performance in real-world scenarios and the soaring costs associated with LLM usage. The platform empowers businesses to reduce Generative AI costs by up to 80% and gain visibility into LLM performance. According to the Noida-based company, its solutions are two proprietary tiny LLMs which are trained on millions of data points. The first model compresses prompts, significantly reducing costs while maintaining output quality while the other is Eval-LM (Evaluation Language Model), assesses LLM-generated output without requiring ground truth data. By leveraging these models, businesses can optimize their LLM implementations, achieve faster iterations, and drive growth without straining their budgets. LLUMO AI aims to help businesses and harness the potential of Generative AI. The platform will bridge the gap between POC and production, enabling efficient deployment of AI solutions. It intends to enable businesses to drive innovation, improve customer experiences, and achieve sustainable growth.