All products
European AI Rising Star Nexos.ai Raises €30M to Unlock Enterprise AI Adoption
Nexos.ai, a startup founded by Lithuania’s most famous entrepreneur duo, Tomas Okmanas and Eimantas Sabaliauskas, has secured a €30 million Series A funding round to help enterprises adopt AI tools securely. The funding round was co-led by Index Ventures and Evantic Capital, with participation from previous backers Creandum and Dig Ventures, as well as angel investors including the CEOs of Datadog, Klarna, Supercell, and Wix.
The Problem of AI Adoption in Enterprises
According to Okmanas, the biggest corporate data leak is currently in the making, as employees upload sensitive information to Large Language Models (LLMs). Instead of banning AI use, Nexos.ai aims to act as a neutral intermediary, sitting between teams and AI tools to keep data under control without sacrificing productivity gains. This approach has garnered attention and funding, with the company now valued at €300 million.
The founders’ experience in building and investing in startups through their company Tesonet helped identify the AI governance gap, which Nexos.ai is now addressing. The startup’s AI product consists of an AI Workspace interface for employees and an AI Gateway for developers, providing a control layer for security, cost management, and compliance oversight.
Expansion Plans and Market Opportunity
Nexos.ai plans to use its funding to accelerate support for private models for sensitive data and expand across Europe and North America. The company is currently doing 50 to 60 demo calls a week and anticipates that traditional businesses will have “a lot of homework” to do to convince their boards about AI adoption. However, tech-savvy companies and those operating in regulated industries are already showing interest, with customers including Bulgarian fintech unicorn Payhawk and web hosting provider Hostinger.
Okmanas points to results within Tesonet’s own portfolio, where an AI assistant reduced the need for human support at Hostinger, saving €10 million this year alone. While the company declined to disclose its revenue, it expects to grow its team to 100 people by its first anniversary, mostly in Europe, where data sovereignty concerns are opening doors for Nexos.ai at public institutions.
Nexos.ai’s mission is to remove barriers to broader AI adoption, and with its new funding, it is well-positioned to make a significant impact in the enterprise AI market. As the company continues to grow and expand, it will be interesting to see how it addresses the challenges of AI adoption and governance in the enterprise sector.
For more information, visit Here
Image Credit: techcrunch.com