ConfidentialMind Raises €1.5 Million in Pre-Seed Round

by Kay Aloha Villamor in June 21st, 2024

ConfidentialMind, an Espoo, Finland-based generative AI software startup, raised €1.5 million in pre-seed funding.  

The round consists of a €1M equity investment and a €0.5M loan from the Finnish government.  


The round was led by Failup Ventures, with participation from Angel CoFund. Additionally, prominent industry figures such as Ilkka Hiidenheimo, Jonathan Scudder, Daniel Fried, Jan Goetz, and Juha Vartiainen participated as angel investors.  

Failup Ventures is a Finnish-American venture capital fund based in New York and Helsinki. The fund invests in early-stage startups, its typical initial investment is $200,000 – $1 million.  

ConfidentialMind Use of Funds  

The company will use the funds to expand its teams in sales, marketing, and engineering, targeting major European markets.  

About ConfidentialMind  

Founded in 2023 by Markku Räsänen, Severi Tikkala, and Esko Vähämäki, ConfidentialMind building a generative AI platform for on-premises and private cloud environments. The company offers a Kubernetes-based tool that facilitates the integration of generative AI applications into business workflows, enabling deployment on various cloud services or on-premises hardware. Its technology supports diverse data types and sources, enabling the creation of complex data pipelines and process automation without extensive custom engineering.  

Funding Details                        

Company: Confidentialmind Oy.  

Raised: €1.5M   

Round: Pre-Seed Round   

Funding Month: June 2024                                     

Lead Investors: Failup Venture   

Additional Investors: Angel CoFund, Ilkka Hiidenheimo, Jonathan Scudder, Daniel Fried, Jan Goetz, Juha Vartiainen   

Company Website:   

Software Category: AI Operations Tool  


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