Contextual AI nabs $80M for its ‘RAG 2.0’ platform

August 2, 2024: Contextual AI Raises $80M for RAG 2.0 Platform - Contextual AI Inc. secured $80M in Series A funding to commercialize its RAG 2.0 platform, simplifying the creation of retrieval-augmented generation AI applications. Led by CEO Douwe Kiela, the company offers pre-optimized LLM, retriever, and embedding model bundles, reducing complexity and costs. Investors include Greycroft, Nvidia, Snowflake, HSBC, and Bezos Expeditions. The platform, outperforming models like GPT-4, will be available as a cloud service and for on-premises use.