SydeLabs Raises $ 2.5 Million in Seed Funding Round
SydeLabs, an AI Security & Risk Management startup, raised $2.5 million in a seed funding round aiming to build solutions at securing generative artificial intelligence (AI) systems for enterprises.
The startup addresses the concerns arising from new cybersecurity attacks launched at the adoption of GenAI through its comprehensive AI security and Risk Management solutions.
Its solutions detect and prevent security and safety vulnerabilities in enterprise AI systems in realtime by mitigating cybersecurity attacks and abuse.
The founders, Ruchir Patwa and Ankita Kumari, laid the founding grounds of SydeLabs with a mission to make AI applications safe, secure and resistant to abuse.
While Ruchir Patwa comes with decades worth experience as a cybersecurity expert, who has spearheaded security teams at Google and Mobile Premier League, Ankita veteran experience expands into product leadership positions, including building fraud and risk management solutions at McKinsey & Company, Mobile Premier League and CRED.
Ankita Kumari, Co-Founder at SydeLabs commented: “While we were working on solving security and fraud-led business problems, we saw how business growth and profitability was fuelled by the adoption of risk mitigation measures, despite these measures usually being seen as cost sinks".
“From a security point of view, companies are now bringing a human-like element into systems that were previously not susceptible to social engineering and manipulation. From a compliance perspective, we see systems having access to internal and user data with the ability to take action on that data. We also see the reputational risk emerging with adoption of GenAI systems that can generate undesirable content which can cause harm to a brand, loss of goodwill and further legal risk”, according to Ankita.
As the company looks to be a holistic AI Security and Risk Management Platform, its solution suite helps detect and prevent vulnerabilities in AI systems thus avoiding attacks, abuse and non-compliance. By focusing on the intent of attackers, rather than using traditional pattern matching approaches that are traditionally used for cybersecurity, the company is going further in its cybersecurity offering.
“We are building a comprehensive platform for risk management of Generative AI systems, across the entire development lifecycle”, says Ruchir Patwa, Co-Founder & CEO at SydeLabs.
Ruchir adds, “We want to give confidence to enterprises to deploy GenAI applications without having to worry about security and safety blindspots”.
“We are super excited about the potential SydeLabs has in setting new standards for AI applications that are as secure as they are ground breaking. We love the vision of Ruchir and Ankita and are happy to back them so early in their journey. SydeLabs' approach to AI security showcases the kind of forward-thinking application of technology we champion at RTP Global." said Galina Chifina, Partner on RTP Global’s Asia Investment team.