In a Nutshell:
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- The AI security startup raised €1.8 million from investors including Inovo.vc, South Central Ventures, and Runtime Ventures to develop its platform that protects AI chatbots from emerging cyber threats.
- SplxAI’s platform, Probe, identifies vulnerabilities in AI systems, highlighted by a demonstration where the startup extracted sensitive data from within minutes.
- SplxAI will use the funding to accelerate product development, expand its team, and enhance its U.S. operations.
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Addressing the vulnerabilities in conversational AI systems
SplxAI, a start-up specializing in cybersecurity for AI chatbots, raised €1.8 million in a pre-seed funding round. The round led by Inovo.vc, with participation from South Central Ventures, Runtime Ventures, and angel investors: David Politis, founder of BetterCloud with Elad Schulman, whose company Segasec was acquired in 2020 by Mimecast.
The funding will support SplxAI’s mission to build the first end-to-end security platform for generative AI (GenAI) technologies, enabling enterprises to protect themselves against emerging vulnerabilities in conversational AI systems.
Founded earlier this year by Kristian Kamber and Ante Gojsalić, their wish was to target “gaping security holes” in AI chatbots, which are now used worldwide. Therefore, the company’s flagship platform, Probe, is designed to proactively identify and mitigate vulnerabilities in chatbot systems before cyber attackers can exploit them. This is crucial as companies increasingly rely on AI chatbots for customer service, replacing traditional support teams.
For example, a recent demonstration by SplxAI highlighted the urgency of the issue when the company exposed sensitive data from a chatbot of a well-funded U.S. enterprise within minutes. This event underscored the real and immediate risks of unprotected AI systems.
“We’re experiencing a paradigm shift in GenAI security, with huge implications for organizations that come under attack,” said Kristian Kamber, CEO of SplxAI.
“There is an ever-growing need for continuous, proactive security systems to safeguard conversational AI used across businesses.”
Chatbots may save up resources but can compromise the reputation
The Croatian startup has already made waves reports SkyNews, by identifying “content bias vulnerabilities” in an IKEA AI assistant that exhibited ethnic bias, potentially causing significant reputational damage. This example illustrates the broader risks that companies face as they adopt AI technologies at scale.
Karol Lasota, Principal at Inovo.vc, who led the investment round, emphasized the growing importance of security in the AI space.
“In the AI gold rush, sell shovels—SplxAI wants to be one of the key shovels in the GenAI space.”
“Their technology ensures that chatbots don’t break or act in damaging ways. The problem is clear, the need is massive, and the timing is now“, Lasota remarked.
Setting up the game
In conclusion, Jure Mikuž, Managing Partner at South Central Ventures, highlighted the essential role of cybersecurity tools in protecting innovation:
“In GenAI-powered industries, cybersecurity tools are the guardians of innovation, shielding sensitive data from cyber threats that evolve as fast as technology itself.”
With this new funding, SplxAI plans to accelerate product development, expand its team, and grow its operations, particularly in the U.S., where demand for AI security solutions is rapidly increasing.
