Elm AI - About the company
Elm AI is a seed company based in New York City (United States), founded in 2023 by Advait Raykar, Ken He and Aparajita Thakker. It operates as a SaaS and AI based supplier sustainability due diligence platform for businesses. Elm AI has raised $2.28M in funding from investors like Cornell, Entrepreneurs Roundtable Accelerator and BRV. The company has 1146 active competitors, including 160 funded and 123 that have exited. Its top competitors include companies like Risk Ledger, Cytora and Shift Technology.
Company Details
SaaS and AI based supplier sustainability due diligence platform for businesses. It offers AI-powered software that automates audit analysis for enterprises and improves supplier audit report assessment. It uses AI to provide reports assessment, attributes risk rankings to suppliers, and creates action plans.
- Website
- elm-ai.com
- Email ID
- *****@elm-ai.com
Key Metrics
Founded Year
2023
Location
New York City, United States
Stage
Seed
Total Funding
$2.28M in 4 rounds
Latest Funding Round
Ranked
27th among 1146 active competitors
Employee Count
12 as on Sep 30, 2026
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Elm AI's funding and investors
Elm AI has raised a total funding of $2.28M over 4 rounds. Its first funding round was on May 19, 2023. Its latest funding round was a Seed round on Apr 14, 2025 for $*****. 6 investors participated in its latest round. Elm AI has 10 institutional investors.
Here is the list of recent funding rounds of Elm AI:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Apr 14, 2025 | 4196474 | Seed | 6299483 | 8334435 | 6941299 | 5314346 |
May 03, 2024 | 8791665 | Seed | 4005341 | 7506657 | 1492651 | 3549435 |
Jun 20, 2023 | 7757176 | Seed | 4430062 | 6903819 | 8955622 |
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Elm AI's founders and board of directors
Founder? Claim ProfileThe founders of Elm AI are Advait Raykar, Ken He and Aparajita Thakker. Advait Raykar is the CEO of Elm AI.
Here are the details of Elm AI's key team members:
- Advait Raykar: Co-Founder & CEO of Elm AI and founder of 1 other company. Contact Info: 2 email addresses
- Ken He: Co-Founder of Elm AI and founder of 1 other company. Contact Info: 2 email addresses
- Aparajita Thakker: Co-Founder of Elm AI and founder of 1 other company. Contact Info: 2 email addresses
View details of Elm AI's Founder profiles and Board Members
Elm AI's employee count trend
Elm AI has 12 employees as of Sep 26. Here is Elm AI's employee count trend over the years:
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Elm AI's Competitors and alternates
Top competitors of Elm AI include Risk Ledger, Cytora and Shift Technology. Here is the list of Top 10 competitors of Elm AI, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Risk Ledger 2017, London (United Kingdom), Series B | Cloud-based supply chain risk and compliance management software | $44.5M | 70/100 | |
2nd | Cytora 2012, London (United Kingdom), Acquired | Risk management solutions for insurers and underwriters | $41.5M | 69/100 | |
3rd | Shift Technology 2014, Paris (France), Series D | Provider of AI solutions for insurance underwriting, claims, and risk | $320M | 68/100 | |
4th | Pibit AI 2020, San Francisco (United States), Series A | AI-powered underwriting platform for commercial property and casualty insurance | $7.64M | 66/100 | |
5th | Developer of software for manufacturing, shop floor, supplier collaboration, and compliance | $25.5M | 66/100 | ||
6th | AccessPay 2012, Manchester (United Kingdom), Acquired | Cloud based payment automation and cash management solutions for businesses | $44.4M | 66/100 | |
7th | Mitratech 1987, Austin (United States), Acquired | Provider of solutions for third party risk management to banks | - | 65/100 | |
8th |  HICX 2004, London (United Kingdom), Series B | Provider of supplier management platform facilitating supplier information and process orchestration | $41.8M | 65/100 | |
9th |  Codoxo 2016, Atlanta (United States), Series C | AI-based platform for employee and individual healthcare planning | $75M | 65/100 | |
10th | RapidRatings 2002, New York City (United States), Series C | Cloud-based solution for vendor risk management | $255M | 64/100 | |
27th |  Elm AI 2023, New York City (United States), Seed | SaaS and AI based supplier sustainability due diligence platform for businesses | $2.28M | 56/100 |
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Elm AI's Investments and acquisitions
Elm AI has made no investments or acquisitions yet.
Reports related to Elm AI
Here is the latest report on Elm AI's sector:
News related to Elm AI
Media has covered Elm AI for 1 event in last 1 year, It was about partnerships.
•
Oxford Industries Selects Elm AI for AI-Powered Responsible Sourcing Across Supply ChainMarTech Series•Feb 02, 2026•Elm AI, Oxford Industries
•
Elm AI Secures $2 Million to Revolutionize Supply Chain Sustainability and Performance in Oversubscribed RoundSalesTech Star•Apr 15, 2025•Beta Boom, Elm AI, Working Capital, Boro Capital and 4 others
•
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