SydeLabs, a startup specializing in AI security and risk management, has successfully secured $2.5 million in its seed funding round led by RTP Global. Notable participation came from Picus Capital and prominent angel investors like Kunal Shah and Sai Srinivas Kiran.
The funding will primarily be allocated towards research and development (R&D) initiatives, as well as bolstering the existing product portfolio of the company.
Co-founded by Ruchir Patwa and Ankita Kumari, SydeLabs provides cutting-edge solutions aimed at identifying security vulnerabilities within enterprise AI systems and proactively preventing potential threats in real-time, thereby aiding in the mitigation of cybersecurity attacks and abuse.
SydeLabs aims to forge partnerships with major providers of large language models (LLMs) to expand the distribution of its products. Moreover, the company is actively developing tools to assist enterprises in achieving compliance for their AI applications across various geographical locations.
With a target to achieve $1 million in annual recurring revenue (ARR) by the conclusion of 2024, SydeLabs is positioning itself for rapid growth and market penetration.
RTP Global, an early-stage venture capital firm, boasts a track record of over 110 investments globally, with notable successes including Datadog, DeliveryHero, CRED, and SumUp.
At SydeLabs, the core mission is to ensure the comprehensive security of client AI systems, enabling them to focus on developing robust AI applications without concerns about security blind spots.
Its flagship product, Sydebox, facilitates Automated Red Teaming of customers’ Generative AI systems. By utilizing the Sydebox test suite, users can gain a deep understanding of vulnerabilities present in their AI systems. Sydebox offers seamless integration and proactive threat intelligence, allowing customers to rigorously assess AI systems and uncover potential loopholes and blind spots inherent to large language models.
