Written by Alex Bredeen
We are excited to announce Fuel Ventures’ investment into Eilla AI as part of a $1,500,000 seed round, led by Eleven Ventures. Eilla AI is an Artificial Intelligence platform designed to power the M&A, VC and PE deal workflow by automating mundane tasks and supporting complex decision making. A huge congratulations to founders Nikola Lazarov, Nikolay Babulkov and Petar Petrov - we can’t wait to build something great together.
What is Eilla AI?
For M&A advisors and investors, one of the biggest time constraints is the volume of mundane tasks associated with the deal workflow. Eilla AI's technology automates these processes by mirroring industry professionals using generative AI. The platform also unlocks new insights and supports complex decision-making through aggregation and analysis of large amounts of information from various sources in significantly less time than is currently possible. AI is rapidly transforming the global financial industry, which is second only to the tech sector in terms of AI investment and spend. With this trend set to continue, new verticalized financial AI companies such as Eilla AI are well positioned to quickly refine the industry.
To date, Eilla AI has been used by advisors and investors from more than 50 M&A banks and VC and PE funds to help optimise specific tasks by researching, aggregating, and analysing information from key industry sources and internal data.
Meet the founding team:
We have huge faith that this founding team, joined by some experienced, savvy and hungry early employees has what it takes to win in this space.
CEO Nikola Lazarov: An AI engineer, former Hedge Fund quant, experience as an early employee at a YC backed startup and a Masters in Generative AI from the University of Cambridge
CTO Nikolay Babulkov: An AI engineer with 7 years experience across ML, software and DevOps and papers published at NLP conferences (ACL and CLEF)
CCO Petar Petrov: Experience across sales and marketing at high growth startups, including being the Growth Lead at B2B SaaS company Vita Mojo, helping them land a $30m Series B from Battery Ventures.
“The bottom line is that financial professionals are paid to think, not waste time on mundane tasks. But the amount of time and effort it takes a junior at a financial firm to map out the companies in a specific industry, for example, can spiral quickly. We tackle this problem by analysing all of the essential information and then providing a report in the appropriate format for our clients. This funding will be vital as we aim to expand our technical team and product offering, while also positioning the business for growth across the M&A, venture capital, and private equity markets.” Nikola Lazarov, CEO at Eilla AI.
What do the investors think?
“It was immediately clear from our own experiences in Venture Capital that Eilla’s innovative, AI driven approach will save a substantial amount of time and resources. Eilla will enable us in VC and others across PE, Corporate Finance and beyond to really focus on actually adding value. We’re excited to be investing alongside Eleven Ventures, and are looking forward to building something great with the enormously talented Eilla team.” Fuel Ventures Founding Partner, Mark Pearson.
“The daily work of M&A, VC and PE professionals hasn’t evolved much in the past 30 years, dominated by lots of manual data retrieval and analysis, as well as mundane document creation. Eilla’s generative AI platform is a total game-changer, which will provide superhuman productivity. What previously took hours and days will take minutes, enabling people to focus on human interactions instead. We are excited to be leading Eilla AI’s seed funding round and work with its talented team, which uniquely combines deep AI expertise with M&A domain knowledge.” Eleven Ventures General Partner, Svetozar Georgiev.
What’s next?
Eilla AI have already seen some exciting traction with their current VC and M&A partners. With this funding round, it’s time to invest heavily in building and refining their world-beating tech and really focussing on making Eilla AI absolutely indispensable to their customers.
To date, Eilla AI has been used by advisors and investors from more than 50 M&A banks and VC and PE funds to help optimise specific tasks by researching, aggregating, and analysing information from key industry sources and internal data.
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