On May 15, 2024, the enterprise AI small model building platform headquartered in Edinburgh, Scotland, UKMalted AIannounced it had raised £6 million in seed funding. The round was led by Hoxton Ventures, with participation from Creator Fund and several angel investors.
The company plans to use the raised funds to further its small model research, product development, and hiring in order to expand its team.
Malted AI was founded in 2022 by three co-founders, Iain Mackie, Carlos Gammel, and Federico Rossetto. The company's founding team consists of former quantitative traders, former Meta researchers, and math champions, and its team members include world-class large language model and applied AI talent from Deepmind, Amazon, Google, Bloomberg, and top Scottish universities.Malted AI'stechnology allows enterprises to apply small language models (SLMs) to solve domain-specific problems and save 10-100 times the cost.
(Source:Tech.eu）