Nexos.ai, a Lithuanian AI startup founded at the end of last year, secured its first $8 million in venture capital funding in January. By the end of the year, it attracted a significantly larger capital injection in its Series A round.

Nexos.ai raises €30M to secure enterprise AI adoption across Europe and north america. * Nexos.ai closes €30 million Series A, co-led by Index Ventures and Evantic Capital, at a €300M valuation. * Funding will accelerate product development, private model support, and expansion in regulated industries. * Platform acts as a "Switzerland for LLMs", keeping corporate data secure while enabling AI productivity. European AI startup Nexos.ai secures major Series A. Nexos.ai, a rising European AI startup, has raised €30 million (approximately $35M) in a Series A funding round, co-led by Index Ventures and Evantic Capital. The round also included participation from previous investors Creandum and Dig Ventures, as well as angel investors including the CEOs of Datadog, Klarna, Supercell, and Wix. This follows Nexos.ai's recent emergence from stealth after an $8 million seed round led by Index Ventures. Placing company valuation at €300 million (~$350 million), the new funding shows growing investor confidence in enterprise-focused AI solutions that address both productivity and data security. A neutral intermediary for AI adoption. A double-edged sword is what AI adoption represents, for on the other side of the allure of skyrocketed productivity, there loom grave security and governance risks. This is especially true for enterprises, as employees have to upload sensitive information. Co-founder Tomas Okmanas, formerly of Nord Security, describes the problem as "the biggest corporate data leak in the making." Rather than banning AI, Nexos.ai positions itself as a neutral intermediary, or "Switzerland for LLMs," that sits between employees and AI systems. This approach allows companies to leverage AI tools safely, keeping sensitive corporate data under control without compromising on efficiency. How Nexos.ai works. The platform consists of two core components: the Workspace and the Gateway. The AI Workspace is a user-friendly interface for employees to interact with AI tools securely. The AI Gateway control layer is for developers and handles security, cost management, and compliance oversight. The AI Gateway also tackles fragmentation, providing a single access point to over 200 AI models. The Series A capital is set to accelerate support for private AI models capable of handling sensitive data. It will achieve this by ensuring compliance for regulated industries and enterprises with strict governance policies. Okmanas notes that Nexos.ai conducts 50 to 60 demo calls per week and initially focuses on tech-savvy companies already using AI, as well as organisations in regulated sectors concerned about governance and cross-border data risks. Founders with proven track records. Nexos.ai was founded by Tomas Okmanas and Eimantas Sabaliauskas, the Lithuanian entrepreneurs behind Nord Security, the $3 billion cybersecurity company behind NordVPN. The duo bootstrapped their previous ventures, but this time opted for venture capital support to accelerate growth. Evantic Capital, founded by former Sequoia partner Matt Miller, co-led the round, leveraging its "Legends" network of 140 operators who advise portfolio companies. Both Okmanas and Sabaliauskas are using this network to refine product development and scale operations effectively. Early customers and market validation. The concept of a secure intermediary for AI emerged from the founders' oversight of Tesonet, their startup incubator and investment firm. Tesonet portfolio companies are among Nexos.ai's first clients, alongside Payhawk, a Bulgarian fintech unicorn with an office in Vilnius. The platform has already shown measurable value. At Hostinger, a Tesonet portfolio company, an AI assistant reduced the need for human support, saving €10 million in one year alone by avoiding the hiring of additional staff. While Nexos.ai has not disclosed its own revenue, Okmanas projects that the team will grow to 100 employees by the company's first anniversary, primarily in Europe, reflecting demand driven by data sovereignty concerns and enterprise adoption. Scaling across Europe and north america. * Expansion into regulated industries and public institutions concerned with AI governance and data privacy. * Acceleration of private AI model support, enabling secure use of sensitive corporate data. * Product development and platform enhancements, including AI Workspace and AI Gateway features. Okmanas emphasises that the company's mission is to remove barriers to enterprise AI adoption. This provides organisations with the tools to leverage AI safely and effectively. "Boards may debate whether AI delivers value, but within Tesonet's portfolio, the benefits are clear. Nexos.ai makes secure AI adoption possible without sacrificing control or productivity," he said. Why Nexos.ai matters. * Keeping sensitive data on-premise while enabling AI use. * Centralising control. The AI Gateway manages access, compliance, and costs across models. * Supporting private AI models for regulated industries and enterprises. * Reducing manual work and enhancing efficiency without additional hires. * Leveraging growing interest in data sovereignty and AI governance policies across Europe. Nexos.ai addresses one of the largest barriers to enterprise AI adoption. It does this by positioning itself as a critical player in the rapidly evolving AI landscape. To stay updated on crypto venture capital funding and market trends, visit its venture capital news section for more insights. Clinton Nwachukwu is a crypto and finance writer with an MBA in Artificial Intelligence and 6+ years of experience creating content for leading global brands. He turns complex topics into clear, actionable insights for readers worldwide. VentureBurn is a media platform covering the latest in cryptocurrency, artificial intelligence, venture capital, and the startup ecosystem. Opinions expressed on VentureBurn are for informational purposes only and do not constitute investment advice. Before making any high-risk investments in digital assets or emerging technologies, readers should conduct their own due diligence. All transactions and financial decisions are made at your own risk, and any losses incurred are solely your responsibility. VentureBurn does not endorse or recommend the buying or selling of any digital assets and is not a licensed investment advisor. Please note that VentureBurn may participate in affiliate marketing programs.

Nexos.ai scores €30 million to help companies adopt AI safely. Nexos.ai positions itself as a neutral intermediary - "Switzerland for LLMs" - to keep corporate data safe while employees use AI tools. Nexos.ai, a startup from Nord Security co-founders Tomas Okmanas and Eimantas Sabaliauskas, has raised a €30 million Series A. The round, co-led by Index Ventures and Evantic Capital, is aimed at helping enterprises securely adopt AI tools. The funding round, equivalent to approximately $35 million, was finalized in early 2024 and places the company's valuation at €300 million, or about $350 million. This development follows just months after Nexos.ai emerged from stealth with an $8 million funding round that was also led by Index Ventures. In addition to the co-leads for the Series A, previous backers Creandum and Dig Ventures participated. The round was also supported by a group of angel investors, including the chief executive officers of Datadog, Klarna, Supercell, and Wix. The company's mission addresses what co-founder Tomas Okmanas describes as a looming risk of "the biggest corporate data leak" resulting from employees uploading sensitive information into large language models. Rather than banning these tools, Nexos.ai aims to act as a "Switzerland for LLMs." The platform is designed to function as a neutral intermediary positioned between a company's employees and its AI systems. This architecture is intended to keep corporate data under control while still allowing organizations to achieve the productivity gains associated with artificial intelligence. Stay ahead of the curve! Don't miss out on the latest insights, trends, and analysis in the world of data, technology, and startups. Subscribe to our newsletter and get exclusive content delivered straight to your inbox. The funding was secured through the persistence of co-leader Evantic Capital, a new venture firm launched by former Sequoia Capital partner Matt Miller. According to Okmanas, Evantic pursued the deal even when Nexos.ai was not actively fundraising. This embrace of venture capital marks a tactical shift for the founders, who famously bootstrapped their prior businesses, including the $3 billion cybersecurity company Nord. Nexos.ai now gains access to guidance from Miller's "Legends" network, a group of 140 operators who advise portfolio companies. Okmanas is a member of this network and also draws upon its expertise. The new capital will be used to further develop the company's product, which currently consists of two main components. The first is an AI Workspace, an interface for employees, and the second is an AI Gateway for developers. This gateway acts as a central control layer for security, cost management, and compliance oversight. It also addresses what Okmanas sees as a key barrier to AI adoption - fragmentation - by providing a single access point to a catalog of some 200 different AI models. A primary use of the new funding will be to accelerate support for private AI models that can handle sensitive data. The company reports conducting 50 to 60 demo calls per week. Okmanas believes traditional businesses will have "a lot of homework" to do to convince their boards on how to adopt AI. For this reason, Nexos.ai is initially focusing its efforts on tech-savvy companies that already use AI daily and on organizations operating in regulated industries. These sectors have heightened concerns about governance and the security implications of sending sensitive data to AI models hosted in foreign countries. The idea for the company originated from the founders' work with Tesonet, their firm that builds and invests in startups. While overseeing the Tesonet portfolio, Okmanas and Sabaliauskas identified the critical AI governance gap in the market. Tesonet portfolio companies are among the first customers of Nexos.ai. The Bulgarian fintech unicorn Payhawk, which also operates an office in Vilnius, is another disclosed client. According to a press release, the new funding will support expansion across Europe and North America. To illustrate the value proposition for enterprises, Okmanas points to a case within the Tesonet portfolio. At web hosting provider Hostinger, an AI assistant reduced the need for human support. He stated, "That's why we didn't need to hire 500 people and saved €10 million this year alone." While declining to disclose Nexos.ai's own revenue, Okmanas said that by its first anniversary, the team will grow to 100 people, mostly in Europe. This European focus aligns with emerging opportunities at public institutions concerned with data sovereignty, potentially opening a new market beyond its enterprise focus.