TLDR: Lithuanian startup Nexos.ai has successfully raised €30 million (approximately $35 million) in a Series A funding round, co-led by Index Ventures and Evantic Capital. The funding will accelerate the company’s mission to enable enterprises to safely integrate generative AI technologies, addressing critical data security and compliance concerns.
Nexos.ai, a pioneering Lithuanian startup, has announced the successful closure of a €30 million (approximately $35 million) Series A funding round. The investment, jointly led by prominent venture capital firms Index Ventures and Evantic Capital, is earmarked to accelerate the widespread and secure adoption of generative artificial intelligence (AI) technologies within enterprises.
Founded by Tomas Okmanas and Eimantas Sabaliauskas, Nexos.ai was established with a clear vision: to mitigate the significant risks associated with data breaches that arise when employees utilize large language models (LLMs) by inadvertently uploading sensitive information. Rather than advocating for a ban on AI tools, the company aims to position itself as a ‘Switzerland’ for LLMs, offering a neutral and secure intermediary platform. This platform is designed to empower businesses to enhance productivity through AI while maintaining stringent control over data security.
At the core of Nexos.ai’s offering are its innovative products: an AI workspace interface and an AI gateway. The AI gateway serves as a crucial control layer for developers, providing robust features for security, cost management, and compliance supervision. This comprehensive approach is intended to alleviate the fragmentation challenges that enterprises frequently encounter when deploying and managing various AI tools. Currently, the gateway supports connectivity to approximately 200 different AI models, with strategic plans to expand support for private models in the future, further bolstering sensitive data protection.
Nexos.ai is actively engaging with the market, conducting between 50 to 60 demo calls weekly. Its primary target audience includes technology companies that have already integrated AI into their daily operations, as well as highly regulated industries with stringent governance requirements. According to co-founder Tomas Okmanas, ‘traditional enterprises still need to do a lot of preparation when reporting to their boards on how to adopt AI, and Nexos.ai is striving to simplify this process.’ The company already boasts a growing client base, including emerging startups like Payhawk from Lithuania.
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With this substantial funding, Nexos.ai is poised for significant expansion across Europe and North America, aiming to further champion the widespread integration of AI. Okmanas highlighted the success of its parent company, Tesonet, as an example of AI assistants’ potential in reducing human support. He projects that the Nexos.ai team will grow to 100 employees by its first anniversary, with a primary focus on business development within Europe.
