TL;DRPrem AI is raising $100M at $500M+ valuation. It builds private AI infrastructure for hedge funds and law firms. “Enterprise intelligence must be owned, not rented.”
Prem AI, a Swiss startup that helps hedge funds and law firms run AI models on their own infrastructure, is raising $100 million in a Series A at a valuation of at least $500 million. The company expects to close the round in the third quarter. CEO and founder Simone Giacomelli said the pitch is simple: “Enterprise intelligence must be owned, not rented.”
The Lugano-based company previously raised a $14 million seed in 2024, followed by a $6.1 million bridge at a $200 million valuation. Backers include Jim Breyer (Breyer Capital), Index Ventures, Marvel Studios founder David Maisel, and Sequoia Capital China co-founder Fan Zhang.
Prem builds AI products for organisations that cannot send sensitive data to OpenAI or Anthropic. The model is self-hosted: the AI runs inside the customer’s own environment. Prem combines security with what Giacomelli calls a “ready-to-use application layer,” giving customers “absolute control without sacrificing usability.”
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Alongside the raise, Prem announced Fluso, an encrypted AI workspace that runs agents and automates tasks. The product is designed for firms where data leaving the building is not an option, whether for regulatory, competitive, or security reasons.
