Malted AI, a Scottish AI firm focused on creating smaller, domain-specific AI models, has secured £6 million in seed investment. By distilling large language models into more compact and efficient models, Malted AI aims to provide enterprises with high-performance, cost-effective AI solutions tailor-made for specific tasks. The funding round was led by Hoxton Ventures with participation from Creator Fund and angel investors. Malted AI’s technology is already in pilot use by financial and legal firms and is set for broader implementation in 2024.
Artificial Intelligence, Venture Capital, Enterprise Solutions,Scotland, Europe
£6m for Scottish firm shrinking AI into small language models