Orq.ai, an all-in-one Generative AI platform for enterprises to integrate with various Large Language Models (LLMs) and enable close collaboration across the organization, announced that it will accelerate its growth with the help of additional funding. After a first oversubscribed pre-seed funding round of €800k in September 2023, it has closed an extension round of an additional €1.5 million. Following this, Orq.ai is launching two new products, Experiment and Optimize.
The current financing round is led by XO Ventures of Bart Malenstein (Owner & former CEO Bergman Clinics and Founder/CEO Quin.md) and Marc van Meerwijk, as well as German-based xdeck ventures. Existing investors Curiosity VC and Spacetime from Adriaan Mol (founder of Mollie and Bird CRM) also joined. The new investments will be used to expand the product team and the go-to-market team for the European market. The initial focus will be on Germany and the Benelux countries.
Founded in 2022, Orq.ai believes every team member in an organization is part of AI transformations and should be equipped with easy-to-use tools and security measures to make the transition. Domain Experts and Product Managers are needed to ensure high quality and compliance with new use cases. The latest products, Experiment and Optimize, are introduced alongside the existing Run solution but can also be used independently to ease the implementation for organizations.
Experiment makes it easy to set up and test thousands of Generative AI use cases, prompts, and data sets across 75+ AI models. Organizations have complete control and transparency with custom quality, cost, and performance controls. With Run, an intelligent business rules engine, AI applications can quickly be shipped to production with granular control over localization, personalization, and data privacy. Finally, with Optimize, teams have real-time analytics on all interactions with Generative AI models, which domain experts can curate for ongoing improvements and model fine-tuning. This end-to-end workflow allows domain experts, product managers, and engineers to collaborate seamlessly in Orq.ai.
“The complexity and speed of new possibilities in Generative AI requires a new way of working and new tools for organizations. Our goal is to demystify AI by making it accessible to everyone. With our integrated Generative AI platform that meets the highest EU security and data protection standards, Orq.ai is the right partner for companies to stay competitive. We see our existing Enterprise clients already using Orq.ai as an enabler for larger AI transformations and new ways of working,” explained Sohrab Hosseini, co-founder of Orq.ai. “Anthony and I are very excited about this new round of funding and look forward to continuing to launch new products that help clients internalize AI innovation safely and responsibly.”
“We are very excited to work with founders Sohrab and Anthony and the entire Orq.ai team to help them further develop and roll out their cutting-edge Generative AI platform,” said Bart Malenstein, Managing Partner at XO Ventures. “As the complexity and number of Generative AI models continues to grow, there is a great need for a solution that enables AI transformations and seamlessly integrates AI models in the business. Orq.ai provides such a solution via a highly user-friendly platform that empowers non-technical team members, such as domain experts and product managers,” added Marc van Meerwijk, Managing Partner at XO Ventures.
“At xdeck, we believe that the Generative AI market is rapidly verticalizing, and new use cases for different AI models, ranging from chatbots to other applications, are on the rise. Orq.ai provides the right toolkit for enterprises and AI startups alike to infuse their work with AI using experimentation, operations, and optimization,” commented Markus Gick, Managing Partner at Cologne-based xdeck Ventures.
Read the orginal article: https://www.eu-startups.com/2024/03/amsterdam-based-orq-ai-adds-e1-5-million-pre-seed-to-demystify-generative-ai-for-enterprises/
