Protopia AI, an Austin, Texas-based company that helps enterprises fully leverage their AI data, announced that it closed $6 million in seed funding. Protopia has raised a total of $8 million, which includes an initial $2 million pre-seed round.
The round was led by ATX Venture Partners, with participation from Galaxy Interactive, Silverton Partners, DNX Ventures, and all existing investors.
The funds will be used to build out engineering teams and advance the product. The company is currently beta-testing its product across industries where data sensitivity causes the most operational slowdowns, including financial services, government, and health care.
Protopia AI solves a significant problem in the space: the inability of enterprises to access key data needed for their artificial intelligence models because of data protection policies. Protopia AI helps enterprises maximize value from their real data using AI/ML with a novel privacy-enhancing layer that ensures raw sensitive data is never exposed to AI, but the AI still gets everything it needs.
“Protopia AI empowers enterprises to extract maximal value using AI and machine learning from their data by providing the governance and protection that is necessary,” said Eiman Ebrahimi, co-founder, and CEO of Protopia AI.
The company was recently named a Gartner® Cool Vendor in AI Governance and Responsible AI, recognizing its unique positioning as a low-overhead, software-only approach to data protection for both inference and model training. Protopia AI’s CEO and Q2’s chief data scientist teams will be discussing their solution with data and AI leaders at the upcoming annual AI Summit in New York City.
Company: Protopia AI, Inc.
Round: Seed Round
Funding Month: December 2022
Lead Investors: ATX Venture Partners
Additional Investors: Galaxy Interactive, Silverton Partners, and DNX Ventures
Company Website: https://protopia.ai/
Software Category: Software-Only & Data-Centric Solution
About the Company: Protopia AI is the industry’s first software-only & data-centric solution that empowers the enterprise to use AI and ML confidently. Protopia AI has developed a software-only solution that enables its customers to use AI and machine learning to extract insights from their actual data without exposing sensitive information in an identifiable form. It offers a software development platform for data security and privacy. Its product includes Stained Glass Transform which is a solution that adds a layer of protection against leakage of sensitive information for any data type, including visual, text, and tabular forms. Stained Glass Transform solution adds a new layer of protection against leakage of sensitive information for any data type—visual, text, or tabular- and can be applied throughout the ML lifecycle: training and inference. Protopia AI’s industry-unique solution works alongside existing data protection and encryption solutions. It was founded in 2020 and is based in Austin, Texas.