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Dili wants to automate due diligence with AI
Dili is a new, Y Combinator-backed startup that aims to automate different aspects of the due diligence process using AI.
Inspired to find a better way, Song teamed up with Brian Fernandez and Anand Chaturvedi, two ex-Coinbase colleagues, to launch Dili(not to be confused by the capital of East Timor), a platform that attempts to automate key investment due diligence and portfolio management steps for private equity and VC firms using AI. Several startups and incumbents are already tapping AI to pour through financial documents and copious amounts of data to craft market comparisons and reports — including Wokelo (whose customers are private equity and VC funds, like Dili’s), Ansarada, AlphaSense and Thomson Reuters (through its Clear Adverse Media unit). That’s because the public data the algorithm was trained on reflected the fact that fewer women and founders from underrepresented groups tend to be disadvantaged in the funding process — and ultimately raise less venture capital.
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