Kodesage has raised $6.6 million in a seed round led by VentureFriends, with pre-seed backer Portfolion returning.
The London and Budapest-based startup helps heavily regulated enterprises modernise decades-old software entirely on-premise, without sensitive code ever reaching public cloud AI tools.
Backers include xAI co-founder Christian Szegedy and German footballer and World Cup winner Mario Götze, whose investment vehicle Companion M has backed more than 70 companies.
The most important software in a bank is often the software nobody fully understands anymore. It runs core processes, has run them for decades, and the engineers who wrote it have long since retired. Changing it is slow, expensive, and risky, which is why so much of it never changes at all.
London and Budapest-based Kodesage believes it has found a way to bring generative AI to exactly this problem. The startup helps heavily regulated enterprises modernise decades-old software systems safely on-premise, without exposing sensitive data to public cloud AI tools.
