DynamoFL raises $15.1M in a Series A round led by Nexus, others

San Francisco-based DynamoFL has raised $15.1 million in a Series A funding round co-led by Nexus Venture Partners and Canapi Ventures.

The round, which brings its total raised amount to $19.3 million, also saw participation from Formus Capital, Soma Capital, and angel investors such as Vojtech Jina, Apple's privacy-preserving machine learning (ML) lead, Tolga Erbay, Head of Governance, Risk and Compliance at Dropbox and Charu Jangid, and product leader at Snowflake, among others.

The privacy-focused AI startup says the raised capital would be used towards meeting demand for its privacy- and compliance-focused generative AI solutions.

It would also focus on scaling up its team of leading Machine learning scientists and privacy experts to continue to grow DynamoFL's technology moat in privacy-preserving generative AI, the release said.

Founded in 2021 by Vaikkunth Mugunthan and Christian Lau, both graduates of MIT’s Department of Electrical Engineering and Computer Science. DynamoFL helps large-scale enterprises to identify vulnerabilities and fine-tune their large language models (LLMs).

"This investment validates our philosophy that AI platforms need to be built with a focus on privacy and security from day one in order to scale in enterprise use cases. It also reflects the growing interest and demand for in-house Generative AI solutions across industries," said Vaikkunth Mugunthan, CEO & Co-founder of DynamoFL.

"While AI holds tremendous potential to transform every industry, the need of the hour is to ensure that AI is safe and trustworthy. DynamoFL is set to do just that and enable enterprises to adopt AI while preserving privacy and remaining regulation-compliant. We are thrilled to have partnered with Vaik, Christian and team in their journey of building an impactful company," said Jishnu Bhattacharjee, managing director, Nexus Venture Partners.

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