Fantix, a NYC-based privacy safe AI model development startup, has successfully raised $1.6m in its maiden funding round.
The notable backers for this round include Gaingels, Notion Capital, Founders Factory, Fastweb, Connect Ventures, IAG and B Heroes.
Taking a closer look at what Fantix offers, the firm stands out with its groundbreaking technology infrastructure. This unique system allows businesses to engage in collaborative training of AI models, and in doing so, gain insights via federated knowledge. Impressively, all this can be achieved without the direct sharing of data.
Instead, Fantix employs a collaborative learning method grounded in data abstraction. This ensures federated knowledge can be built by sharing models and insights but not the data itself. Consequently, this process only utilises anonymous aggregated abstractions of data, upholding consumer privacy and preserving business confidentiality.
The recently-acquired funds are earmarked for pushing forward the company’s developmental endeavours.
For those new to Fantix’s journey, it is notable that they launched earlier this year. The company began its operations with Epsilon taking the role of a charter partner.
Fantix CEO Antonio Tomarchio said, “We are deeply committed to innovating in the AI space, ensuring consumer privacy and business confidentiality aren’t compromised. This funding marks an exciting chapter in our journey.”
Prior to this funding round, there is no mention of any previous investments secured by Fantix.
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