SydeLabs, a startup specialising in security and risk management for Generative AI, has announced a significant milestone in its journey.
The company has successfully raised $2.5m in a seed funding round. This round was spearheaded by RTP Global, with additional contributions from Picus Capital and a number of notable angel investors.
The emergence of GenAI technology has introduced a novel vector for cybersecurity threats, a challenge that SydeLabs is poised to tackle. The firm is committed to identifying and mitigating vulnerabilities within enterprise AI systems through its innovative solutions. This proactive approach enables the real-time prevention of potential cyber attacks and abuses.
At its core, SydeLabs aims to safeguard AI applications, ensuring they are secure and resistant to malicious exploitation. The company was founded by Ruchir Patwa and Ankita Kumari, two professionals with a wealth of experience in the cybersecurity and risk management domains. Patwa brings over a decade of expertise from leading security initiatives at Google and Mobile Premier League, while Kumari’s background in fraud and risk management solutions from her time at McKinsey & Company, Mobile Premier League, and CRED complements the duo’s objectives.
The seed funding will be instrumental in advancing SydeLabs’ mission to create a comprehensive platform for the security and risk management of GenAI systems. This platform is designed to enhance productivity and mitigate costs associated with security and compliance threats, thus encouraging enterprises to deploy GenAI applications with confidence.
“Business growth and profitability have been significantly influenced by the adoption of risk mitigation measures,” SydeLabs co-founder Ankita Kumari stated. She highlighted the critical role of security in the context of GenAI’s adoption across enterprise organisations.
Ruchir Patwa, co-founder at SydeLabs, echoed this sentiment, emphasising the company’s commitment to building a holistic AI security platform that covers the entire development lifecycle of GenAI systems.
Galina Chifina, a Partner on RTP Global’s Asia Investment team, expressed her enthusiasm for SydeLabs’ vision. “We are super excited about the potential SydeLabs has in setting new standards for AI applications that are as secure as they are groundbreaking,” she said.
In addition to its latest funding, SydeLabs’ ongoing dialogue with CISOs globally underscores the growing recognition of vulnerabilities as enterprises rapidly integrate GenAI into their operations.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
