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Illumex is using GenAI to ease pain of getting good data into LLMs | TechCrunch

Jun 27, 2024 - techcrunch.com
Illumex, an Israeli startup founded by the former VP of AI at Sisense, has raised $13 million in investment. The company uses GenAI to prepare data for large language models (LLMs), addressing a key challenge for businesses. Illumex's technology combines generative AI, graph databases, and relational databases to create a "data fabric" that companies can use to train LLMs and build applications. The platform integrates with existing enterprise communication tools and is used by customers in highly regulated industries such as financial services and pharmaceuticals.

The startup, which currently has 30 employees, plans to use the new capital for hiring. Illumex's founder and CEO, Inna Tokarev-Sela, is committed to creating a parent-friendly company and reports that they are female-majority. The $13 million investment round was led by Cardumen Capital, Amdocs Ventures, and Samsung Ventures, with participation from several other funds and industry angels.

Key takeaways:

  • Illumex, an Israeli startup, is using GenAI to prepare data for use by large language models (LLMs) and has recently announced a $13 million investment.
  • The company, founded by the former VP of AI at Sisense, aims to automate the organization of data and make it easier for businesses to access and use relevant data.
  • Illumex integrates with existing enterprise communication tools and is used by highly regulated companies in fields such as financial services and pharmaceuticals.
  • The investment round was led by Cardumen Capital, Amdocs Ventures, and Samsung Ventures, and the funds will be used for hiring. The company is majority female and aims to be parent-friendly.
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