World News

Deepset secures $30M to expand its LLM-focused MLOps offerings on August 9, 2023 at 12:00 pm

Published

3 years ago

August 9, 2023

The proceeds will be put toward expanding Deepset’s products and services and growing its team from around 50 people to 70 to 75 by the end of the year, co-founder and CEO Milos Rusic says.

“In many organizations, data science teams are still the default option for ‘all things AI.’ In reality, a lot of data science teams are restructuring, relearning and reshaping their habits to match the growing demands of the product teams and the end-users in the enterprise,” Rusic told TechCrunch in an email interview. “The industry is shifting from AI labs to AI factories — it’s not anymore about tinkering around, it’s about shipping successful products and value.”

Rusic’s not wrong in implying that data science teams are overworked and overburdened. According to one recent poll, the vast majority of data engineers — the data scientists who prep data for analytics tools — are experiencing burnout, likely to leave their current company for another within 12 months and considering quitting the industry altogether.

The unfortunate state of affairs is likely contributing to challenges around AI development within the enterprise. A 2022 Gartner poll found that only around half of AI projects make the leap from pilot to production and that 53% of machine learning models are never deployed.

Rusic co-launched Deepset with Malte Pietsch and Timo Möller in 2018, bootstrapping the business by training custom natural language processing models for enterprises. The three co-founders closely followed the Transformer AI model architecture developed by Google in 2017, which would go on to form the basis of sophisticated LLMs like ChatGPT and GPT-4.

In 2019, Rusic, Pietsch and Möller released Haystack, an open source framework to build NLP back-end services with Transformers and other LLM architectures. The goal was to provide a collection of tools for software engineers to quickly create LLM-driven applications, Rusic says — particularly applications covering a specific use case, like helping legal teams search across case files.

But Deepset’s ambitions eventually outgrew Haystack.

Last year, the startup debuted Deepset Cloud, which Rusic describes as an “enterprise LLM platform for AI teams.” Deepset Cloud extends Haystack by providing a platform where customers can try out different LLMs, embed those LLMs into applications, deploy the applications and LLMs to end users, and perform analyses of the LLMs’ accuracy while continuously monitoring their performance.

Deepset Cloud also includes components for measuring and mitigating common issues with LLMs, like hallucination. Hallucination, which plagues even the best LLMs today, causes models to make up false information or facts that aren’t based on real events or data.

A screenshot of Deepset Cloud, Deepset’s new MLOps platform. Image Credits: Deepset Cloud

“Deepset Cloud leverages the open source Haystack technology very heavily — the pipeline architecture, the core components, datastores, integrations and so on,” Rusic explained. “Our platform delivers all the building blocks to avoid doing any ‘undifferentiated heavy-lifting’ and enables developers to focus on shipping NLP back-end services — API-driven, easily composable, easily embeddable and easily monitored.”

Deepset, which has raised a total of $46 million in funding to date, sees vendors competing in the MLOps space as its main rivals. MLOps attempts to streamline the process of building and managing machine learning models by providing tools to address each individual stage of a model’s life cycle.

Besides incumbents such as AWS, Azure and Google Cloud, a growing raft of startups provide MLOps products, platforms and services to enterprise clients. There’s Seldon, which recently raised $20 million; Galileo; McKinsey-owned Iguazio; Diveplane; Arize; and Tecton, to name a few.

Allied Market Research predicts that the sector for MLOps will reach $23.1 billion by 2031, up from around $1 billion in 2021. No doubt, the addressable market’s sheer size will continue to attract new entrants.

But Rusic points to Deepset’s expansion as evidence that it’s standing out from the crowd. The startup has “hundreds” of customer pipelines running on its platform, including workloads for Siemens and Airbus. Legal publishing house Manz tapped Deepset to launch an internal AI-powered tool that helps to surface court documents, related precedents and more. Airbus, meanwhile, is using Haystack to build apps that recommend aircraft operations guidelines to pilots in the cockpit.

“It’s often 10x faster to repeatedly build production-ready NLP and LLM services with Deepset Cloud as opposed to hiring, training and managing a dedicated team for robust back-end application development,” Rusic said. “Deepset Cloud allows customers to use various LLMs simultaneously, combining them in the application architecture to avoid vendor lock-in and mitigating data privacy and model sovereignty issues.”

Deepset, a platform for building enterprise apps powered by large language models akin to ChatGPT, today announced that it raised $30 million in a funding round led by Balderton Capital with participation from GV and Harpoon Ventures. The proceeds will be put toward expanding Deepset’s products and services and growing its team from around 50

Business

GLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER

Published

1 week ago

May 16, 2026

Bolanle Media Staff

FOR IMMEDIATE RELEASE

Theme: “People, Planet, and Profit in the Age of AI and Innovation”

London, United Kingdom — The Global Sustainability Summit (GSS) is officially back for its landmark 5th Edition, continuing its legacy as one of the leading international platforms driving sustainable development, climate action, ethical investment, innovation, and global collaboration.

Convened annually at the prestigious British Parliament, House of Lords, Palace of Westminster, by Ambassador Canon Chinenem Otto, the Summit has, over the last four years, successfully fostered international dialogue and partnerships that have contributed to the advancement of global sustainability goals, the establishment of sustainability-focused ministries, departments and policy structures across national and subnational governments, and the attraction of major investors into sustainable development projects, corporations and emerging economies.

This year’s summit, themed “People, Planet, and Profit in the Age of AI and Innovation,” will explore how emerging technologies, responsible leadership, sustainable finance, innovation, and global partnerships can shape a more inclusive, resilient and environmentally conscious future.

The 5th Edition promises to be the most impactful yet, bringing together world leaders, policymakers, diplomats, investors, academics, innovators, climate experts and youth leaders from across the globe to discuss actionable solutions toward achieving a sustainable and equitable future.

Among the distinguished speakers, delegates and honorees already lined up for the Summit are:

• His Excellency Mallam AbdulRahman AbdulRazaq — Executive Governor of Kwara State, Nigeria and Chairman of the Nigeria Governors’ Forum

• His Excellency Senator Prince Bassey Otu — Executive Governor of Cross River State, Nigeria

• Ambassador Patricia Espinosa Cantellano — Former Executive Secretary of UN Climate Change (UNFCCC) and Former Foreign Minister of Mexico

• Lord Marvin Rees, Baron Rees of Easton OBE — Member of the House of Lords, United Kingdom

• Hon. Neema K. Lugangira — Secretary-General of Women Political Leaders (WPL), Brussels and Former Member of Parliament

• Her Excellency Dr. Netumbo Nandi-Ndaitwah — President of the Republic of Namibia

• His Excellency Nangolo Mbumba — Former President of Namibia

• Former President of Tanzania

• Her Excellency Ambassador Professor Olufolake AbdulRazaq — First Lady of Kwara State, Nigeria and Chairperson of Nigeria Governors’ Spouses Forum

• Your Excellency Dr. Dikko Umar Radda, PhD, CON — Executive Governor of Katsina State and Chairman of the Northwest Governors Forum, Nigeria

• Hon. Sam Shafiishuna Nujoma — Governor of Khomas Region, Namibia

• H.E. Mr. Veiccoh Nghiwete — High Commissioner of the Republic of Namibia to the United Kingdom

• Her Excellency Ms. Macenje “Che Che” Mazoka — High Commissioner of Zambia to the United Kingdom

• Ms. Danielle Newman — Partner Lead, ICT, World Economic Forum

• Leanne Elliott Young — Co-founder, Institute of Digital Fashion & CommuneEast

• Ms. Chloe Russell — Producer & Presenter, Art, Science and Nature

• Professor Marie-Claire Cordonier Segger — University of Cambridge & University of Waterloo

• Dr. Alexandra R. Harrington — IUCN World Commission on Environmental Law (WCEL)

• Professor Payam Akhavan — Massey College, University of Toronto

• Mr. Mallai C. E. Sathya — President, Dravida Vetri Kazhagam and International Movement for Tamil Culture Asia

The Summit will feature high-level panel discussions, strategic investment conversations, sustainability awards, policy dialogues, innovation showcases, youth engagement sessions and international networking opportunities focused on climate resilience, ethical financing, food-water-energy sustainability, circular economy, artificial intelligence, diplomacy and sustainable development.

Speaking ahead of the Summit, Convener Ambassador Canon Chinenem Otto noted:

“As the world rapidly evolves through artificial intelligence and technological innovation, we must ensure that sustainability remains people-centered, environmentally responsible and economically inclusive. The Global Sustainability Summit continues to serve as a bridge connecting governments, institutions, innovators and investors to accelerate practical sustainability solutions globally. Our fifth edition is not only a celebration of progress made over the years, but also a renewed call for global collaboration and actionable impact toward achieving the Sustainable Development Goals and Net Zero ambitions.”

The Global Sustainability Summit continues to position itself as a catalyst for transformative partnerships and sustainable global progress, reinforcing the urgent need for collective action toward a more resilient and sustainable future.

More announcements regarding additional speakers, partners and summit activities will be unveiled in the coming weeks.

News

US May Completely Cut Income Tax Due to Tariff Revenue

Published

6 months ago

November 30, 2025

Bolanle Media Staff

President Donald Trump says the United States might one day get rid of federal income tax because of money the government collects from tariffs on imported goods. Tariffs are extra taxes the U.S. puts on products that come from other countries.

What Trump Is Saying

Trump has said that tariff money could become so large that it might allow the government to cut income taxes “almost completely.” He has also talked about possibly phasing out income tax over the next few years if tariff money keeps going up.

How Taxes Work Now

Right now, the federal government gets much more money from income taxes than from tariffs. Income taxes bring in trillions of dollars each year, while tariffs bring in only a small part of that total. Because of this gap, experts say tariffs would need to grow by many times to replace income tax money.

Questions From Experts

Many economists and tax experts doubt that tariffs alone could pay for the whole federal budget. They warn that very high tariffs could make many imported goods more expensive for shoppers in the United States. This could hit lower- and middle‑income families hardest, because they spend a big share of their money on everyday items.

What Congress Must Do

The president can change some tariffs, but only Congress can change or end the federal income tax. That means any real plan to remove income tax would need new laws passed by both the House of Representatives and the Senate. So far, there is no detailed law or full budget plan on this idea.

What It Means Right Now

For now, Trump’s comments are a proposal, not a change in the law. People and businesses still have to pay federal income tax under the current rules. The debate over using tariffs instead of income taxes is likely to continue among lawmakers, experts, and voters.

News

Epstein Files to Be Declassified After Trump Order

Published

6 months ago

November 20, 2025

Bolanle Media Staff

Former President Donald Trump has signed an executive order directing federal agencies to declassify all government files related to Jeffrey Epstein, the disgraced financier whose death in 2019 continues to fuel controversy and speculation.

The order, signed Wednesday at Trump’s Mar-a-Lago estate, instructs the FBI, Department of Justice, and intelligence agencies to release documents detailing Epstein’s network, finances, and alleged connections to high-profile figures. Trump described the move as “a step toward transparency and public trust,” promising that no names would be shielded from scrutiny.

“This information belongs to the American people,” Trump said in a televised statement. “For too long, powerful interests have tried to bury the truth. That ends now.”

U.S. intelligence officials confirmed that preparations for the release are already underway. According to sources familiar with the process, the first batch of documents is expected to be made public within the next 30 days, with additional releases scheduled over several months.

Reactions poured in across the political spectrum. Supporters praised the decision as a bold act of accountability, while critics alleged it was politically motivated, timed to draw attention during a volatile election season. Civil rights advocates, meanwhile, emphasized caution, warning that some records could expose private victims or ongoing legal matters.

The Epstein case, which implicated figures in politics, business, and entertainment, remains one of the most talked-about scandals of the past decade. Epstein’s connections to influential individuals—including politicians, royals, and executives—have long sparked speculation about the extent of his operations and who may have been involved.

Former federal prosecutor Lauren Fields said the release could mark a turning point in public discourse surrounding government transparency. “Regardless of political stance, this declassification has the potential to reshape how Americans view power and accountability,” Fields noted.

Officials say redactions may still occur to protect sensitive intelligence or personal information, but the intent is a near-complete disclosure. For years, critics of the government’s handling of Epstein’s case have accused agencies of concealing evidence or shielding elites from exposure. Trump’s order promises to change that narrative.

As anticipation builds, journalists, legal analysts, and online commentators are preparing for what could be one of the most consequential information releases in recent history.