Germany’s deepset raises $30M to expand its embed LLM offering

German AI company deepset, the enterprise platform for building applications with LLMs is showing companies just what to do with all that data they collect, and how to properly access it. It counts Siemens, Airbus and Manz amongst its clients.

The company has raised $30 million in funding in a round led by Balderton Capital, which includes existing investors GV (Google Ventures), and Harpoon Ventures. deepset laid out that the fund would further develop its offering by 'refining deepset Cloud for RAG (retrieval-augmented generation) applications: in particular, improving the evaluation of every component in a RAG pipeline. We’ll also focus on making the platform viable for customers with heavy privacy constraints by optimising for virtual private cloud (VPC) setups'. It also said the LLM observability in deepset Cloud would diversify and improve.  

“Enterprises can see huge benefits from leveraging LLM technology. At deepset, we’re providing a platform that helps to bridge the decades of research in machine learning and computer science into production-ready applications. In the same way you don’t need to know much about microchip architecture to write software, you don’t need to be an NLP or LLM scientific researcher to use our Haystack framework and deepset Cloud," says Milos Rusic, co-founder of deepset. 

“The pace of change in the power of LLMs is remarkable, but to date, there has been a lot of testing without the tools needed to get applications built of these new models into production. deepset Cloud and Haystack provide the tools and platform for enterprises to develop powerful new AI applications transparently and securely," says James Wise, partner at Balderton. 

Image credit: Joshua Sortino