Malted AI, an Edinburgh, Scotland, UK-based AI company that assists businesses in developing AI models, has secured £6 million in capital.
Investors
- Hoxton Ventures
- Creator Fund
- angel investors
Use of funds
The firm plans to expand the size of its workforce and use the money to spend in recruiting, product development, and research.
In its initial trials, the technology is already being utilized by law and finance businesses; additional rollout is scheduled for the latter part of 2024.
About Malted AI
Under the direction of CEO Iain Mackie, Malted AI breaks down the output of large models (such as ChatGPT) into smaller models that businesses may use to create small language models (SLMs) that more affordably handle domain-specific issues.
