Wodan AI closes a €2M round to advance sovereign AI development in Europe
Wodan AI, a European startup specializing in secure AI, has secured €2 million in pre-seed funding to advance its homomorphic encryption technology. This technology allows artificial intelligence models to operate on fully encrypted data, enhancing privacy and data security. The investment underscores a growing focus on European digital sovereignty and the development of AI solutions that comply with stringent data protection regulations. The funding round was led by Spanish venture funds JME Ventures, Swanlaab, and Adara Ventures, with additional participation from ScaleFund in Belgium. Wodan AI's platform is designed for machine learning, computer vision, and large language models (LLMs), ensuring they can run on encrypted data without decryption. The company is relocating its headquarters to Madrid and consolidating its R&D team there, to focus on advanced cryptography and privacy technologies. This technology is particularly relevant for sensitive sectors like finance, defense, healthcare, and critical infrastructure, offering a solution for organizations handling confidential information. Wodan AI's expansion plans include accelerating its technical roadmap, extending the platform's capabilities, and strengthening its commercial capacity to secure contracts with European organizations. The company is also developing pilot projects with a Spanish financial institution. Wodan AI's focus on homomorphic encryption is poised to address the growing need for secure AI solutions within Europe. With the relocation of its headquarters to Madrid and the consolidation of its R&D team, Wodan AI is positioned to establish a strong European presence in the secure AI landscape.
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