RagaAI, an emerging player in the automated testing domain, has successfully closed a seed funding round, raising $4.7 million (approximately INR 39 crores). Led by pi Ventures, the investment round witnessed participation from global investors, including Anorak Ventures, TenOneTen Ventures, Arka Ventures, Mana Ventures, and Exfinity Venture Partners.
The freshly infused capital will be directed towards research and development initiatives, along with the expansion of the client base across the United States and Europe, as shared by Gaurav Agarwal, the founder of RagaAI.
Established in 2022, RagaAI prides itself on its platform, RagaAI DNA, which offers AI-powered companies a robust solution for testing automation use cases. The platform is designed to identify, diagnose, and instantly rectify shortcomings in the testing process, ultimately mitigating AI risks. With over 300 different tests available, RagaAI aids users in pinpointing the root cause of issues, including data drift, edge case detection, poor data labeling quality, bias in the data, and adversarial attacks.
RagaAI’s platform covers a wide spectrum of applications, supporting testing for Large Language Models (LLMs), images/videos, 3D, audio, Natural Language Processing (NLP), and structured data. The startup claims to reduce risks by 90%, thereby accelerating AI development by over three times.
Gaurav Agarwal articulated the vision of RagaAI, stating, “Our vision is to liberate AI from the constraints of human interventions and foster continuous improvement. In the era where AI dominates, our mission at RagaAI is to tackle the paramount challenge of ensuring the quality and consistency of AI applications.”
With a focus on providing innovative testing solutions, RagaAI aims to unlock the full potential of the AI revolution, fostering a future where AI thrives with trust, reliability, and excellence. The startup envisions a 10X increase in revenue and plans to expand its employee count from 40 to 100 within the next two years.
This funding round comes at a time when deeptech and AI-based startups are gaining significant attention and investment. Notably, Bengaluru-based Upekkha recently announced the first close of its AI-focused fund at $15 million, targeting a total of $40 million.
According to Inc42’s Indian Tech Startup Funding Report 2023, deeptech startups secured over $496 million in funding in the year, marking a substantial increase from $397 million in 2022.
