Malted AI builds a distillation platform that converts outputs from large foundation models into small language models (SLMs) optimized for single, high‑value enterprise tasks. Its SLMs aim to deliver 10–100x cost savings versus larger LLM deployments by trading broad generality for task‑specific performance. Early pilots are underway with financial and legal firms, and the company plans further roll‑out through the rest of 2024. The team is currently about 10 people and includes former researchers and engineers from DeepMind, Amazon, Google, Bloomberg and top Scottish universities. Malted AI was born from concepts that helped its founders win the 2022 Amazon Alexa Prize, and its founders include CEO and co‑founder Iain Mackie plus Carlos Gammel and Federico Rossetto. The company will use new funding to invest in research, product development and recruitment as it doubles team size.

Total raised

$8M

Funding rounds

1

Latest round

Seed

Latest activity

May 2024