TitanML, an AI company located in London, revealed that it has successfully raised $2.8 million (equivalent to approximately €2.6 million) in a pre-seed funding round, with Octopus Ventures taking the lead, alongside angel investors with a focus on deep tech.
The funding coincides with the launch of “Titan Takeoff” by the UK-based company, which streamlines and expedites the deployment of large language models (LLMs) while significantly reducing costs for machine learning teams.
Meryem Arik, CEO and Co-Founder of TitanML, explains, “We observe that many businesses are making substantial investments in AI, but a majority encounter challenges in realizing returns on these investments. Machine learning teams face a multitude of issues when it comes to model deployment, ranging from GPU shortages to concerns regarding privacy when utilizing third-party platforms like OpenAI. We are revolutionizing what used to be the most complex phase of the development cycle, making it the simplest and most efficient. This is where our flagship product, Takeoff, truly excels.”
The company is dedicated to establishing the foundational infrastructure for deep learning within enterprise environments.
Established in 2021, TitanML emerged from the postdoctoral research endeavors of Dr. James Dborin and Dr. Fergus Finn, who delved into areas such as deep learning training, model compression, and inference optimization during their tenure at University College London (UCL).
Subsequently, they teamed up with co-founder Meryem Arik, an alumna of the University of Oxford.
TitanML empowers machine learning teams to seamlessly and efficiently implement large language models (LLMs).
At present, the team comprises accomplished ML researchers, engineers, and architects who are dedicated to expediting the integration of deep learning within enterprise settings.
About the Investor
Octopus is a versatile venture capital investor, specializing in various sectors, including B2B software, bio, climate, consumer, deep tech, fintech, and health. On an annual basis, the VC allocates over £200 million to facilitate the rapid growth of its portfolio companies.
Mat Munro, a member of the Deep Tech Team at Octopus Ventures, comments, “There is currently a great deal of enthusiasm surrounding emerging language models. However, for companies seeking to deploy these models in-house, the practicality is that it can entail months of work performed by highly skilled data scientists, who must further optimize these models for transformation into deployable products. TitanML offers a solution that allows businesses to significantly reduce the computational demands of high-end models swiftly, cost-effectively, and with minimal trade-offs, thereby unlocking the full potential of these technologies.”
He further notes, “We are thrilled to lead this investment round and eagerly anticipate supporting the team as they embark on the next phase of empowering businesses with efficient model deployment.”