Wednesday, July 24, 2024
30.1 C
Los Angeles

How to assess a general-purpose AI model’s reliability before it’s deployed | MIT News

Foundation models are massive deep-learning models that...

El Salvador: Rights Violations Against Children in ‘State of Emergency’

El Salvador’s state of emergency, declared in...

Vietnam: New decree on cashless payments

On 15 May 2024, the Government officially...

Automat AI Secures $3.75 Million for Innovative Usage-Based RPA Subscription Model

AI/MLAutomat AI Secures $3.75 Million for Innovative Usage-Based RPA Subscription Model

Automat AI has secured $3.75 million in a seed funding round, with the aim of offering a usage-based Software as a Service (SaaS) subscription model for Robotic Process Automation (RPA). This approach is particularly beneficial for businesses that lack accessible APIs for their operational needs, such as processing medical insurance claims or verifying trade licenses in the FinTech sector.

The Generative AI startup raised the capital in a round led by Initialized and supported by investors including Khosla Ventures and Y Combinator. Automat aims to simplify automation by providing a usage-based SaaS subscription model, unlike traditional RPA tools that can be costly and time-consuming to set up.

Automat’s platform incorporates features like natural language processing and image recognition, which are made possible by generative AI.

In another SaaS-related development, Grip Security, a leader in SaaS identity risk management, has secured $41 million in its Series B fundraising round. This substantial investment, led by Third Point Ventures and featuring participation from YL Ventures, Intel Capital, and The Syndicate Group, brings Grip Security’s total funding to $66 million. This funding will support the company’s market entry strategy and the enhancement of its product offerings.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

Check out our other content


Check out other tags:

Most Popular Articles