Swedish AI Firm Secures $15M to Drive Privacy-Centric Technology Forward

Gothenburg-based Privasea has successfully raised $15 million in its Series A funding round, elevating the company’s valuation to $180 million. The funding round was led by GSR, Amber, and Echo, with additional participation from Binance Labs, OKX Ventures, Gate Labs, and Laser Digital. This financial boost will enable the development and expansion of the company’s DeepSea AI Network, a platform designed to facilitate secure AI computations using Fully Homomorphic Encryption (FHE) technology.

The company plans to utilize this investment to enhance the DeepSea network's capabilities, aiming to provide tailored solutions in key industries such as finance, healthcare, and smart automation. DeepSea integrates advanced machine learning with encryption to allow computations on encrypted data, addressing the growing need for privacy and security in the evolving landscape of artificial intelligence.

Privasea launched the DeepSea testnet beta on January 6, 2025, introducing tools that cater to early adopters. Among its features are a user-friendly dashboard for managing workloads, staking tokens, and monitoring node activities. The testnet also incorporates two significant nodes: the WorkHeart Node, tailored for proof-of-work contributions, and the high-performance Privanetix Node. This infrastructure enables deep learning inference directly on encrypted data, combining confidentiality with efficiency, a critical step for the future of secure AI.

According to the company’s founder and CEO, the new funding will allow Privasea to accelerate the development of privacy-focused AI solutions for both Web2 and Web3 platforms. The CEO stated, “We’re building the foundation for a decentralized future where privacy is a default, not an afterthought.”

The upcoming milestones for Privasea include the Genesis release, scheduled for January 27, 2025, and the anticipated mainnet launch in the first quarter of the year. These advancements reflect the company’s commitment to fostering human-machine collaboration and developing intelligent agent ecosystems capable of transforming industries.

By integrating cutting-edge encryption with machine learning, Privasea’s DeepSea network is poised to set a benchmark for secure and efficient AI applications. With the support of its investors and innovative technological approach, the company aims to position itself as a global leader in privacy-driven AI development.