Arkifi, a Palo Alto, CA-based artificial intelligence startup that provides workflow automation tools for financial institutions, including hedge funds and investment banks, raised over $9 million in seed financing.
SaaS Investors
The round was co-led by Khosla Ventures and Nyca Partners. Several other investors participated in the funding round, including Soma Capital, MVP Ventures, Valiant Capital Employee Fund, Correlation VC, and G&H Partners.
Khosla Ventures is a venture capital firm focused on early-stage companies. Founded in 2004, the firm invests in a range of areas, including AI, climate, sustainability, enterprise, consumer, fintech, digital health, medtech, diagnostics, therapeutics, and frontier technology.
Nyca Partners is a venture capital and advisory firm that focuses on the fintech sector. The firm connects innovative companies to financial institutions, technology companies, and expert individuals as investors and advisors. Nyca Partners was founded in 2014 and is headquartered in New York, United States.
About Arkifi
Arkifi is an artificial intelligence startup that provides workflow automation tools for financial institutions, including hedge funds and investment banks. Arkifi's products utilize generative AI to automate tasks that have traditionally required manual effort from financial analysts. The company's products are designed to streamline various tasks commonly performed by financial analysts, such as retrieving information from public markets, building financial models, and customizing spreadsheets. One notable feature is Arkifi's avoidance of generating false information, known as "hallucination," which is a common concern in AI models.
Funding Details
Company: ArkiFi.ai, Inc.
Raised: $9.0M+
Round: Seed Round
Funding Month: August 2023
Lead Investors: Khosla Ventures and Nyca Partners
Additional Investors: Soma Capital, MVP Ventures, Valiant Capital Employee Fund, Correlation VC, and G&H Partners
Company Website: https://www.arkifi.ai/
Software Category: Workflow Automation
Source: https://www.reuters.com/article/tech-ai-arkifi-idUSL6N39Y0D8