Privacy-solutions provider for generative AI space DynamoFL, has raised $15.1 million as part of a fresh funding round, co-led by existing investor Nexus Venture Partners and Canapi Ventures.

It also saw participation from Formus Capital, Soma Capital, and angel investors Vojtech Jina, Apple’s privacy-preserving machine learning (ML) lead, Tolga Erbay, Head of Governance, Risk and Compliance at Dropbox and Charu Jangid, product leader at Snowflake.

The company said it will use the fresh raise to double its team strength and scale up engineering capabilities across the machine learning domain and strengthen its DevOps function.

The company raised $4.2 million in a seed round last year bringing the total amount raised to $19.3 million.

Founded in 2021, DynamoFL is an artificial intelligence (AI) infrastructure platform that helps large-scale enterprises to identify vulnerabilities and fine-tune their large language models (LLMs).

“DynamoFL aims to work with policymakers as well as Indian financial services and fintech companies to help them meet the upcoming compliance standards mandated by the India Digital Act, fostering a safer and more trustworthy digital ecosystem within India,” it said in a statement.

DynamoFL CEO and co-founder Vaikkunth Mugunthan, said, “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.”

At present, the startup is working with six large enterprises, some of which are Fortune100 companies in the insurance, finance and automotive space.

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