Fastino, a new foundation AI model provider, launched to provide a family of task-optimized language models that are more accurate, faster, and safer than traditional LLMs. The company also announced its $7 million pre-seed funding round led by global software investor Insight Partners and M12, Microsoft’s Venture Fund, with participation from NEA, CRV, Valor, Github CEO Thomas Dohmke, and others.
While Generative AI deployments have steadily increased year over year, even early adopters continue to face significant challenges when implementing the new technology. A 2024 McKinsey study shows that 63 percent of enterprises implementing Generative AI struggle to achieve demonstrable ROI due to model inaccuracy. Conventional LLMs offer significant innovation potential, but technological and operational complexities hinder companies from fully realizing this value. Fastino introduces a differentiated approach to help enterprises of all sizes accelerate the adoption and deployment of generative AI technology tailored to solve their business challenges.
“Fastino aims to bring the world more performant AI with task-specific capabilities,” said Ash Lewis, CEO and co-founder of Fastino. “Whereas traditional LLMs often require thousands of GPUs, making them costly and resource-intensive, our unique architecture requires only CPUs or NPUs. This approach enhances accuracy and speed while lowering energy consumption compared to other LLMs.”
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Key features of Fastino include:
- Fit-for-purpose architecture for consistent, accurate outputs: Fastino delivers task-optimized models for critical enterprise use cases like structuring of textual data, RAG systems, text summarization, task planning, and more.
- CPU-level inferencing for swifter results: Fastino’s novel architecture operates up to 1000x faster than traditional large language models. Its optimized computation enables flexible deployment on CPUs or NPUs, minimizing the reliance on high end GPUs.
- Task-optimized models for safer AI systems: Fastino’s family of models enable new, distributed AI systems, which are less vulnerable to adversarial attacks, hallucinations, and privacy risks.
“We’re proud to announce our initial funding round, led by Insight Partners and M12, Microsoft’s Venture Fund. This pre-seed funding allows us to continue pioneering LLM architecture, developing accurate, secure solutions that bring AI to the enterprise,” said George Hurn-Maloney, COO and co-founder of Fastino. “Global enterprises are facing increasing difficulty in accessing computing power while achieving the precision and speed necessary to integrate AI effectively. Fastino aims to fix this with scalable, high-performance language models, optimized for enterprise tasks.”
SOURCE: BusinessWire