AI innovator Auquan has closed a $3.5 million seed round led by Neotribe Ventures. They’ve introduced their Auquan Intelligence Engine™, driven by retrieval augmented generation (RAG) AI, offering a SaaS product for clients like UBS and Federated Hermes to extract insights from unstructured data in finance. This solution streamlines data processing for professionals in the finance industry and is already in use by major financial institutions in the U.S. and Europe.
The funding was led by Neotribe Ventures, with participation from Episode 1 and Stage 2 Capital. Auquan plans to further develop its RAG AI-powered intelligence engine and expand its presence in the United States.
The Auquan Intelligence Engine leverages RAG AI, combining AI-driven information retrieval and generative AI to provide up-to-date and reliable information for financial services. This technology overcomes the limitations of generative AI, making it suitable for knowledge-intensive tasks in the enterprise.
Auquan’s Intelligence Engine is designed to streamline processes that require the rapid collection and analysis of unstructured text data, including private company screening and due diligence, Know Your Customer (KYC) checks, background checks, and ESG and sustainability research and monitoring.
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