Eilla AI, an AI platform specifically designed for mergers and acquisitions (M&A), venture capital, and private equity professionals, has secured £1.2 million in seed funding. Eleven Ventures led the round with contributions from Fuel Ventures and Mark Pearson, Founder and Managing Partner at Fuel Ventures. Eilla AI’s technology can automate tasks associated with deal workflow, which can save time and reduce the volume of mundane tasks experienced by M&A advisors and investors. The platform can also support complex decision-making and unlock new insights by analysing large datasets from multiple sources. Eilla AI is among new legalised financial AI companies that may help refine the industry. The platform has been used by investors and advisors from over 50 M&A banks and VC and PE funds.
According to Nikola Lazarov, CEO at Eilla AI, financial experts are paid to think, not to waste time on tiresome tasks. He added that the amount of time and effort required to map out companies in a particular industry can spiral out of control quickly. “We tackle this problem by analysing all essential information and providing a report in the appropriate format for our clients,” he said. The funding will go towards expanding the technical team and product offering while also positioning the business for growth in the M&A, venture capital, and private equity markets.
Eleven Ventures General Partner, Svetozar Georgiev, praised Eilla’s generative AI platform, which he described as a game-changer that provides superhuman productivity. He said, “What previously took hours and days now takes minutes, enabling people to focus on human interactions instead.” Georgiev said the firm was thrilled to lead Eilla AI’s funding round and work with its talented team. The financial industry now sees Artificial Intelligence (AI) as a significant trend that will help investors and advisors streamline their workflows, which allows them to focus on making the right decisions.