Vectara, a Palo Alto, CA-based provider of a generative AI product platform, raised $25M in Series A funding.
The round, which brought the total amount to $53.5M, was led by FPV Ventures and Race Capital. Additional investors included Alumni Ventures, WVV Capital, Samsung Next, Fusion Fund, Green Sands Equity, and Mack Ventures. As part of the round, Pegah Ebrahimi, co-founder and managing partner of FPV Ventures, will join Vectara’s board of directors.
The company intends to use the funds to advance internal innovations, ramp up its go-to-market resources, and expand its offering in Australia and EMEA regions.
Led by CEO Amr Awadallah, Vectara provides an end-to-end platform for embedding generative AI features into applications. As an end-to-end retrieval augmented generation (RAG) platform, it delivers the shortest path to a correct answer/action through a safe, and secure, entry point. It allows businesses to embed generative AI capabilities without the risk of data or privacy violations.
As part of its ongoing commitment to innovation, Vectara is launching Mockingbird, a new, fine-tuned generative Large Language Model (LLM) specifically designed for RAG applications. Mockingbird is engineered to reduce hallucinations and improve structured output, providing reliable performance with low latency and cost efficiency.
FinSMEs
16/07/2024