RagaAI, an AI testing and safety firm, has raised $4.7 million in seed funding led by Pi Ventures. The funding round also saw participation from notable global investors, including TenOneTen Ventures, Arka Ventures, Mana Ventures, Anorak Ventures, and Exfinity Venture Partners.

It is the first institutional funding raised by the startup after coming out of stealth mode.

As per the startup, the freshly raised funds will be used to advance research and development, focusing on improving AI testing tools. RagaAI also plans to expand its team and raise awareness in the AI community while forming strategic partnerships.

RagaAI | AI Testing and Safety Platform

Founded by former Ola Electric and NVIDIA executive Gaurav Agarwal, RagaAI is an AI testing and safety platform that helps enterprises mitigate AI risks and make their models secure and reliable. The end-to-end AI testing platform works with AI-first companies and helps enterprises drastically improve their AI development pipeline and prevent inefficiencies and risks post-deployment.

Speaking about the development, Gaurav Agarwal, CEO and founder of RagaAI, highlighted that RagaAI is focusing on one of the most important problem statements–Gen AI failures.

Agarwal added,

“I have dedicated 20 years to leading AI efforts, overseeing teams across healthcare, retail, pharmaceuticals, aerospace, and the space industry. Detecting and preventing AI failures is not easy, and this is where our platform becomes crucial.”

As per the startup, it offers over 300 tests, identifying issues like data drift, edge cases, poor data labeling, and bias, among others. The end-to-end AI testing platform supports various data types and reduces risks by 90%, accelerating AI development by over 3 times.

For the e-commerce segment, the AI testing platform fine-tuned a chatbot, reducing errors by addressing hallucinations in responses. Additionally, RagaAI improved vehicle detection in low-light scenarios in the automotive industry by simulating lighting conditions with Gen AI, potentially preventing accidents.

Statement from the Investor

Commenting on the development, Manish Singhal, Founding Partner, pi Ventures, while mentioning RagaAI’s patent-pending Drift detection technology, highlighted that the AI testing platform is well-suited to solve these massive problems for AI deployments globally.

Singhal added,

“At pi Ventures, we believe in backing founders who can create disruptive solutions for global impact. In our view, Gaurav and his stellar team at RagaAI are fulfilling that goal in a big way.”

As per Agarwal, RagaAI’s customers operate in sectors such as pharmaceuticals, retail, insurance, healthcare, automotive, and surveillance. Currently, the AI testing platform works with 10 large firms and multiple medium and small-sized firms, including several from the Fortune 100 and Fortune 500 lists. These firms are based across India, the United States, and Europe.

Now, the startup looks to scale up to over 50 large clients by the end of the calendar year 2024.

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