Retrieval augmented generation-as-a-service (RAGaaS) platform Ragie raised USD 5.5 million in a seed funding round led by Craft Ventures, Saga VC, Chapter One, and Valor.

The usage of the raised funding remained undisclosed, although this could be used for the official launch of its platform and to scale its managed RAG service for enterprises.

Ragie is a platform that connects enterprise data with GenAI models, providing updated and relevant information for AI workflows. The company offers a data ingest pipeline and retrieval API that integrates with popular data sources such as Google Drive, Notion, and Confluence. The platform includes features like "Summary Index" to prevent document affinity issues and "Entity Extraction" for handling unstructured data.

Analyst QuickTake: RAGaaS companies have garnered investor interest recently, with the news following Vectara (a prominent RAGaaS platform) raising USD 25 million in July 2024 . Vectara also introduced its new Mockingbird LLM, designed specifically for RAG applications, engineered to reduce hallucinations and improve structured output.