DynamoFL raises $15.1M in Series A round co-led by Nexus Venture Partners, Canapi Ventures
DynamoFL, a GenAI-focused software startup, will use the funding largely for hiring engineering talent in India.
DynamoFL, the San Francisco-headquartered software startup focused on large language models (LLM), has raised $15.1 million in a Series A funding round, as it looks to scale up its team of machine learning scientists and privacy experts in India.
The funding round was co-led by Nexus Venture Partners and Canapi Ventures. Besides, it saw participation from Formus Capital, Soma Capital, and angel investors. Prior to this round, had raised $4.2 million in a seed round last year.
Founded in 2021 by two MIT graduates Vaikkunth Mugunthan and Christian Lau, DynamoFL claims that its flagship technology allows customers to safely train LLM on sensitive internal data. It said companies from finance, electronics, insurance, and automotive sectors are already using its model.
DynamoFL’s privacy evaluation suite provides out-of-the-box testing for data extraction vulnerabilities and automated documentation to ensure enterprises’ LLMs are secure and compliant. Its end-to-end suite—Privacy Evaluation Suite, Differential Privacy, and Federated Learning modules—individually helps organisations implement enterprise-grade, private, and secure in-house generative AI (GenAI) solutions at lower costs.
According to DynamoFL, it aims to work with policymakers and Indian financial services and fintech companies to help them meet the upcoming compliance standards mandated by the India Digital Act, fostering a safer and more trustworthy digital ecosystem within India.
"This investment validates our philosophy that AI platforms need to be built with a focus on privacy and security from day one in order to scale in enterprise use cases. It also reflects the growing interest and demand for in-house generative AI solutions across industries," DynamoFL CEO and Co-founder Vaikkunth Mugunthan said.
Edited by Suman Singh