Bulgaria's Eleven Ventures invests $1.1 mln in Eilla AI

The remaining funds came from British VC fund Fuel Ventures, the Eleven Ventures representative said in response to a SeeNews enquiry.

The fresh financing will go towards product development and team expansion, with plans to hire between 12 and 15 new AI engineers and software developers, primarily in London.

"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," Eilla AI CEO Nikola Lazarov said.

London-based Eilla AI uses generative AI to automate tasks and support decision-making in M&A, VC and private equity deal workflows, reducing process times to minutes. The platform has already been used by advisors and investors from over 50 M&A banks and VC and PE funds.

($ = 0.9371 euro)