AI startup Deepset has successfully raised $30 million in a Series A round. Led by Balderton Capital, an investor in Revolut, the round included participation from existing investors such as GV, System.One, Lunar Ventures and Harpoon Ventures.
Founded in 2018 by Milos Rusic, Malte Pietsch and Timo Möller, deepset is focused on solving a significant challenge for enterprises. It aims to help organisations utilise their data more quickly, easily, and at scale.
The power of large language models (LLMs)
Deepset empowers organisations to leverage the potential of today’s most promising technology, Large Language Models (LLMs). For enterprises lacking the full expertise or time to develop their LLM platform, deepset offers a solution. They can use deepset Cloud to harness the power of natural language processing (NLP) to create LLM-enabled applications.
The growth in the power of LLMs has been remarkable, but there has been much testing without the required tools for production. Deepset Cloud and Haystack provide the tools and platform to develop powerful new AI applications transparently and securely.
Solution for organisational challenges
Deepset Cloud can address the challenges of building custom LLM-powered applications. It assists AI engineers, software engineers, and product managers in adapting rapid iteration methodology to NLP. This allows the development of applications in a standardised, predictable way. Deepset Cloud facilitates the proper software development life cycle, reducing time-to-market and aiding organisations to remain model-agnostic.
As a SOC2 certified product, deepset Cloud eliminates entry barriers for enterprises building LLM apps. It ensures performance, sovereignty, data protection and customer trust are not compromised.
Bridging research & production-ready applications
The benefits of leveraging LLM technology are vast for enterprises. Deepset offers a platform that bridges decades of machine learning and computer science research into ready-to-use applications. Utilising deepset’s Haystack framework and deepset Cloud doesn’t require expertise in NLP or LLM scientific research.
The company behind Haystack
deepset is the force behind the popular Haystack open-source framework for building NLP services. Backed by leading investors and supported by business angels like Spencer Kimball and others, deepset brings cutting-edge NLP to the industry through open source.
Deepset’s flagship product, Haystack, enables users to access and interact with data through language. It’s an open-source NLP framework that uses transformer models for a wide range of applications. From question answering to semantic document search and summarisation, Haystack integrates with top technologies, like Hugging Face Transformers, Elasticsearch and Pinecone.
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