TrojAI, a cybersecurity platform designed for AI solution providers, has netted CAD3m ($2.3m) in its seed round.
The investment was co-led by Seattle’s Flying Fish Ventures and Atlantic Canada’s largest venture capital fund, Build Ventures.
With the equity infusion, the company plans to expand its tool suite to better protect the entire AI pipeline from training through to deployment. This includes protecting training data from data poisoning, which can happen throughout the data supply chain, model evasion attacks which bad actors can use to fool deployed models, and tracking robustness of models to both naturally occurring and malicious long-tailed edge cases.
The capital will also be used to scale its team as new natural language processing protections are added to the platform.
TrojAI is a Canadian FinTech company that builds cybersecurity solutions to enhance and protect AI solutions.
Flying Fish managing partner Frank Chang said, “As more companies speed to get AI solutions to market few are prepared for, or even aware of the very real security threats that can be introduced with malicious data injected into training sets and TrojAI is the only company we’ve seen that has the team and technology to identify and remove it.”
The RegTech company previously raised $750,000 in a pre-seed round last year, which was backed by Techstars, Concrete Ventures, and the New Brunswick Innovation Foundation.
Over the past year, TrojAI also participated in Techstars Montreal AI accelerator, the Rogers Cyber Catalyst program out of Ryerson University and the Global Affairs Canadian Technology Accelerator for Cybersecurity. It is also currently engaged in the Venture Lab and Creative Destruction Lab in Toronto.
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