Prem seeks $100M Series A as export bans boost sovereign AI demand
Swiss artificial intelligence startup Prem SA is raising $100 million in Series A funding at a valuation of at least $500 million, Bloomberg reported today. The round is expected to close in the third quarter.
Prem sells software for running AI models on a company’s own infrastructure, not a cloud provider’s. Customers fine-tune models, analyze documents and run inference in private environments and the data never goes back to Prem. That pitch is built for buyers who handle information they cannot hand to a third party. Its early targets are hedge funds and law firms.
The company dates to 2023. Its founder, Simone Giacomelli, had earlier helped start the decentralized AI network SingularityNET.
Prem is launching the fundraise alongside Fluso, an encrypted workspace for running AI agents and automating work. It runs where the customer’s data already sits, whether that is a private cloud, a virtual private cloud or an air-gapped on-premise system. Fluso uses open-weight models, so every parameter can be audited. None of the data touches a training pipeline, the company says.
