London-based Eilla AI, a pioneering generative AI platform designed to aid professionals in M&A, venture capital (VC), and private equity (PE) by automating financial research, analysis, and document creation, has successfully raised $1.5 million in seed funding.
The investment will be utilized to expand the team and further develop the company and its offerings. Leading the funding round was Eleven Ventures, with support from Fuel Ventures and individual investment from Mark Pearson, Founder & Managing Partner at Fuel Ventures.
M&A advisors and investors often grapple with time-consuming, mundane tasks within the deal workflow. Eilla AI’s technology leverages generative AI to automate these processes, replicating industry professionals’ work. Furthermore, the platform unlocks invaluable insights and facilitates complex decision-making by swiftly aggregating and analyzing vast amounts of data from diverse sources.
Artificial Intelligence is rapidly revolutionizing the global financial industry, with AI investments and spending trailing only the tech sector. Eilla AI, as a verticalized financial AI company, is well-positioned to enhance and streamline the industry. To date, Eilla AI has been adopted by over 50 M&A banks and VC and PE funds, optimizing tasks by researching, aggregating, and analyzing data from key industry sources and internal data.
Nikola Lazarov, CEO at Eilla AI, expressed, “Financial professionals are paid to think, not waste time on mundane tasks. We address this issue by analyzing essential information and delivering reports in the desired format for our clients. This funding is crucial as we expand our technical team, enhance our product offerings, and foster growth in the M&A, venture capital, and private equity markets.”
Svetozar Georgiev, General Partner at Eleven Ventures, lauded Eilla AI’s generative AI platform as a game-changer, poised to boost productivity dramatically, allowing professionals to shift their focus from hours of manual work to meaningful human interactions. Eleven Ventures is excited to lead the seed funding round and collaborate with Eilla AI’s talented team, combining deep AI expertise with M&A domain knowledge.
Mark Pearson, Founding Partner at Fuel Ventures, emphasized how Eilla’s AI-driven approach will save significant time and resources for professionals in venture capital and beyond, enabling them to concentrate on value addition. Fuel Ventures is eager to join forces with Eleven Ventures and the exceptional Eilla team to build something exceptional.
Nikola Lazarov, the co-founder and CEO of Eilla AI, brings a wealth of experience, having graduated from the University of Cambridge with a Master’s thesis focused on a predecessor of ChatGPT and Generative AI. His background includes work as a Quant in a London-based hedge fund, where he developed and optimized trading strategies with AI. Before founding Eilla AI, Nikola led the AI team in a YC-backed tech startup.
