Israel-based Verax AI has raised $7.6 million in a seed funding round led by TQ Ventures with participation from Concept Ventures, Cardumen Capital, Seedcamp, InMotion Ventures, and XTX Ventures.
Read also – Country Delight Secures Rs 200 Cr in Debt from Alteria Capital
Verax AI also announced the release of its enterprise-grade software solution, Verax Control Center, which is intended to provide visibility and control over LLM-based products in production, enabling trustworthy and responsible AI.
Read also – GDS Holdings Secures US$1 billion Investment
“We’re excited to be able to simultaneously announce our seed round and the release of Verax Control Center,” Verax AI Co-Founder and CEO Leonid Feinberg said in a statement. “Providing customers with increased AI trust, and a new level of visibility into how their AI products behave is a crucial step in protecting against risk and facilitating the widespread adoption of responsible AI.”
Verax AI has broken down those barriers, allowing organizations fully to capitalize on the vast potential that AI holds out for driving growth and efficiency and smartly managing risks.
Verax AI was specifically developed to answer the risks that LLMs impose. It aims to create tested and trustworthy AI along with clearly understanding and mitigating real-life problems that surface in production, such as inaccuracies, hallucinations, and data leakage.
“We’re seeing many parallels between the challenges organizations are facing when adopting AI today and the ones they faced adopting the public cloud a decade ago,” Feinberg added, “As a result, we are perfectly positioned to help them.”
“Companies of all sizes, across all industries, need to mitigate the risk of their production AI applications providing inaccurate, offensive, or embarrassing answers,” said Schuster Tanger, co-managing partner of TQ Ventures. “Successful entrepreneurs with years of experience developing and deploying enterprise-grade solutions, Leo and Oren have developed solutions that are uniquely qualified to meet the significant challenges faced by these companies.”
About Verax AI
Verax AI was founded in 2023 by CEO Leonid Feinberg and Oren Gev, Verax AI is a B2B deep tech software start-up led by seasoned entrepreneurs who’ve already conquered the enterprise software landscape and sold their previous company to Amazon Web Services. It knows how enterprises think, having delivered complex B2B solutions that resonated with industry giants.
