AI security startup SydeLabs raises $2.5M to secure GenAI systems for enterprises

SydeLabs, a Bengaluru-based AI security and risk management startup, has raised $2.5 million in a seed funding round led by RTP Global with participation from Picus Capital and several notable angel investors.

The investment represents a crucial advancement in bolstering the security of generative AI systems used by businesses. The burgeoning use of generative AI technologies has introduced novel cybersecurity challenges, necessitating innovative solutions to protect against potential threats and abuses.

Who are the founders?

The Bengaluru-based startup was co-founded by Ruchir Patwa and Ankita Kumari, who leveraged their extensive experience in AI from their tenure at the Mobile Premier League (MPL). The founders recognized the unique vulnerabilities AI systems present compared to traditional cybersecurity frameworks. To address this, The founders embarked on creating SydeLabs.

“While we were working on solving security and fraud-led business problems, we saw how business growth and profitability were fuelled by the adoption of risk mitigation measures, despite these measures usually being seen as cost sinks. Since then, we knew we wanted to build solutions in the vulnerability and risk management space to address these growing concerns," Kumari said. 

“The adoption of generative AI in enterprise organisations has seen the cybersecurity attack surface increase substantially. From a security point of view, companies are now bringing a human-like element into systems that were previously not susceptible to social engineering and manipulation," she added.

Innovating AI security solutions

SydeLabs is developing a suite of products designed to preemptively identify and mitigate security risks in AI applications. The first of these, SydeBox, is an automated scanner that evaluates AI tools for vulnerabilities before they are deployed.

Following SydeBox, the startup plans to introduce SydeGuard, a real-time security solution likened to a firewall for AI products, and a compliance tool to ensure adherence to evolving AI regulations. These products aim to provide a comprehensive security framework across the entire lifecycle of AI system development.

Aiming for a secure AI future

With the funds raised, SydeLabs intends to accelerate its product development and research efforts. The startup aims to achieve an annual revenue of $1 million by the end of 2024, driven by the increasing adoption of AI solutions across various sectors.

“We are building a comprehensive platform for risk management of generative AI systems across the entire development lifecycle. This can give a huge productivity boost to enterprises and prevent costs associated with inaction around security and compliance threats," said Ruchir Patwa, who is also the CEO of SydeLabs.