Fantix, a New York-based privacy-safe AI model development startup, raised $1.6 million in first funding.
Investor participated in the round includes Gaingels, Notion Capital, Founders Factory, Fastweb, Connect Ventures, IAG and B Heroes.
Gaingels is an American venture capital firm headquartered in Burlington, Vermont. The firm focuses on investing in companies with diverse and underrepresented leadership as well as progressive social values.
Notion Capital is an entrepreneur-led venture capital firm that focuses on high-potential businesses in the Cloud Computing and Software-as-a-Service (SaaS) markets.
Founded in 2015, Founders Factory is an accelerator/incubator based in London, United Kingdom. The firm prefers to invest in seed-stage companies.
Fastweb is an Italy-based fixed telecommunications network that provides infrastructure solutions to households and companies.
Founded in 2011, Connect Ventures is a venture capital investment firm based in London, United Kingdom. The firm prefers to invest in pre-seed and seed-stage companies.
IAG is an Italian syndicate fund supporting startups in early-stage.
Founded in 2017, B Heroes is a growth equity firm based in Milan, Italy. The firm invests in early-stage companies.
Fantix Use of Funds
The company intends to use the funds to advance development efforts.
Led by Antonio Tomarchio, CEO, Fantix has developed a technology infrastructure that enables businesses to collaborate in training AI models and gain insights through federated knowledge without sharing data. The company uses a collaborative learning technique based on data abstraction that makes it possible to build federated knowledge through the sharing of models and insights without sharing data – only anonymous aggregated abstractions of data – protecting consumer privacy and business confidentiality. Fantix launched earlier this year, with Epsilon as a charter partner.
Funding Month: October 2023
Lead Investors: Gaingels, Notion Capital, Founders Factory, Fastweb, Connect Ventures, IAG and B Heroes
Company Website: https://www.fantix.ai/
Software Category: Privacy-Proof Predictive Analytics Tool