About Elm AI
Elm AI is a company based in New York (United States) founded in 2023 by Advait Raykar, Ken He, and Aparajita Thakker.. Elm AI has raised $2.28 million across 4 funding rounds from investors including Cornell University, Beta Boom and Working Capital. Elm AI offers products and services including AuditSense. Elm AI operates in a competitive market with competitors including Kyriba, Avetta, CyberGRX, Middesk and T-REX Group, among others.
- Headquarter New York, United States
- Founders Advait Raykar, Ken He, Aparajita Thakker
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Sectors
TechnologyFinancial Services
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Email
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$2.28 M (USD)
in 4 rounds
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Latest Funding Round
$2 M (USD), Seed
Apr 14, 2025
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Investors
Cornell University
& 9 more
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Employee Count
Employee Count
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Products & Services of Elm AI
Elm AI offers a comprehensive portfolio of products and services, including AuditSense. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI tool for reviewing supplier documents and flagging non-conformances quickly
Funding Insights of Elm AI
Elm AI has successfully raised a total of $2.28M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $2 million completed in April 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Seed — $2.0M
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First Round
First Round
(19 May 2023)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Apr, 2025 | Amount | Seed - Elm AI | Valuation | Beta Boom , Working Capital | |
| May, 2024 | Amount | Seed - Elm AI | Valuation | BRV |
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| Jun, 2023 | Amount | Seed - Elm AI | Valuation | Entrepreneurs Roundtable Accelerator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Elm AI
Elm AI has secured backing from 10 investors, including venture fund and institutional investors. Prominent investors backing the company include Cornell University, Beta Boom and Working Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Women-led and minority startups are accelerated sector-agnostically by Beta Boom.
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Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Elm AI
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Elm AI
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Elm Ai Comparisons
Competitors of Elm AI
Elm AI operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Kyriba, Avetta, CyberGRX, Middesk and T-REX Group, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based treasury automation and risk management solutions are provided.
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Supply chain risk management and supplier pre-qualification platform
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| domain | founded_year | HQ Location |
Cloud-based risk assessment and management solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
Risk management solutions for financial institutions are offered.
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| domain | founded_year | HQ Location |
A financial SaaS platform for renewable energy investments is offered.
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| domain | founded_year | HQ Location |
Cloud based payment automation and cash management solutions for businesses
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Elm AI
When was Elm AI founded?
Elm AI was founded in 2023.
Where is Elm AI located?
Elm AI is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Elm AI?
Advait Raykar is the current CEO of Elm AI. They have also founded this company.
Is Elm AI a funded company?
Elm AI is a funded company, having raised a total of $2.28M across 4 funding rounds to date. The company's 1st funding round was a Seed of $150K, raised on May 19, 2023.
What does Elm AI do?
Elm AI was founded in 2023 and is based in New York, United States. A SaaS platform powered by AI is offered to businesses for supplier sustainability due diligence. Audit analysis is automated, and supplier audit reports are assessed through AI-driven processes. Risk rankings are assigned to suppliers, and action plans are generated to support enterprise compliance and risk management in the sustainability sector.
Who are the top competitors of Elm AI?
What products or services does Elm AI offer?
Elm AI offers AuditSense.
Who are Elm AI's investors?
Elm AI has 10 investors. Key investors include Cornell University, Beta Boom, Working Capital, Boro Capital, and Very Serious Ventures.
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