Bengaluru-Based Alchemyst AI Expands to the UK

Bengaluru-based generative AI startup Alchemyst AI now has a brand-new office in the United Kingdom, marking a significant step in its global expansion. The UK office, located on St Helens Road in West Midlands, will serve mid-market enterprise teams across the UK and EU.

Sid Bains, the company’s country director of sales for the UK, will lead the expansion efforts. Uttaran Nayak, the co-founder of Alchemyst AI, stated in his LinkedIn post, "We're just getting started." He emphasised the company's commitment to automating entire workflows for B2B enterprise teams.

This move highlights the company’s growing footprint in international markets and its dedication to serving businesses across Europe.

Last year, Alchemyst AI raised $300K in its pre-seed round from key investors, including Inflection Point Ventures, 100 Unicorns (formerly 9U), and EarlySeed Ventures.

“We want to build an entire ecosystem of generative AI-based digital employees, backed by our own AI infrastructure,” said Nayak in an exclusive interview with AIM.

Nayak said that they have created their own model, AlchemystC1, by combining Phi-3 vision and an Indic LLM from AI4Bharat. He said that they are not using any of the popular models like OpenAI’s GPT-4o or Google Gemini due to concerns from enterprises about their data being exposed on the web. 

“In the next three to four months, we are planning to extend into 28 languages, particularly to cater to Indian customers,” he said.

Regarding hallucinations, he said, “We have fine-tuned our model to say ‘I don’t know’ rather than producing gibberish. This requires more data, as maximum reliability in instruction-following is essential from any employee across an organisation.”

Nayak also mentioned that they are looking to build a “$200 million company in the next three years”. Moreover, the company plans to expand into the US, UAE, and Southeast Asia.