Funding

[Funding alert] Swiss Startup Tune Insight Raises $3.4M in Funding

Sep 27, 2023 | By Startup Rise EU

[Funding alert] Swiss Startup Tune Insight Raises $3.4M in Funding
Tune Insight Management Team - Romain Bouyé, Juan R. Troncoso Pastoriza, Frederic Pont

Encrypted computing platform Tune Insight secures $3.4m as it pushes the boundaries from a data economy to a secure insight economy.

The oversubscribed seed funding round was led by 14Peaks Capital with participation of US-based Inflection.xyz, Debiopharm and Zurich Cantonal Bank. Existing investors Wingman Ventures also participated in the funding round.

Tune Insight was founded in 2021 by Juan R. Troncoso Pastoriza, Frederic Pont, Romain Bouyé and Jean-Pierre Hubaux. The startup is a confidential collaborative analytics and privacy-preserving machine learning solution. 

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This funding round will be used by Tune Insight to solidify its position as a leader in secure collaborative analytics and machine learning for the healthcare, financial services, and cybersecurity industries, bolster its sales and marketing teams, and quicken its international growth in the US and Europe.

Juan R. Troncoso Pastoriza, co-founder & CEO of Tune Insight, has been working on privacy-enhancing technologies since 2005 commented: "The data economy falls short of its promise for very valuable, highly confidential or regulated data. In a data-driven world, protecting data not only at rest and in transit, but also in-use, is paramount. Combined with the increasing need for organizations to work together with others, both for collaborations and valorization, and progress towards more protections for citizens and customer data through regulations like GDPR, robust applied cryptography solutions that combine the best privacy-enhancing technologies are of greatest importance in all domains. At Tune Insight, our vision is to transform the paradigm of the data economy into an insight economy that better protects sensitive data, that is more secure, fair, and protective of privacy and confidentiality rights".

Read also - Paris-based Rayon Secures €4 million in seed funding

Edoardo Ermotti, Founder and Managing Partner of 14Peaks Capital, commented: "Tune Insight stands at the forefront of addressing a critical gap in the realm of confidential collaborative analytics. Their software, situated at the intersection of AI/ML, SaaS, and data security, offers compelling applications across industries, including financial services. This aligns seamlessly with the core values and strategic focus we have at 14Peaks Capital. We are excited about this partnership and look forward to contributing to Tune Insight's next phase of growth, continuing to revolutionize enterprise collaboration on sensitive and regulated data while mitigating the customary associated risks."

Read also - Hamburg-based Resourcify Secures €14 million Series A Round Funding

Alexander Lange, Founding Partner at Inflection.xyz remarked: "We believe that AI's bottlenecks won't be software development, tooling or algorithms but access to raw compute and high quality data sets. Tune Insight is making a breakthrough contribution to the latter by building an operating system for model training on confidential data without leakage. For the first time, adversarial stakeholders operating across multiple levels of a given value chain are economically motivated to collaborate. This will lead to significant efficiency gains and better products for their customers."

Read also - AI Platform Machine Discovery Secures £4.5M in Funding

Pascal Mathis, Founding Partner, Wingman Ventures, added: "Tune Insight is the poster child of a Swiss startup on its way to global success: born on deep technology from the Swiss Federal Institute of Technology, with a complementary team of experienced international co-founders, supported by the Swiss startup ecosystem, and signing as first customers Swiss companies that are world leaders in healthcare and financial services. Tune Insight is now ready to build on those early successes to accelerate towards becoming a global leader in secure collective data analytics and machine learning across industries. At Wingman, we are proud to have been Tune Insight's first investor at pre-seed. "

Read also - HR tech Startup Woba.io Secures €2.95M new Funding from PreSeed Ventures and Denmark’s export and investment fund, EIFO

About Tune Insight

In the fields of healthcare, cybersecurity, financial services, and other industries, Tune Insight offers private collaborative analytics and federated machine learning B2B solutions. Our goal is to change the upcoming data economy paradigm into an insight economy that better safeguards data and is more just, secure, and protective of confidentiality and privacy rights.

Read also - Paris-based KYC Solution, Ondorse, Secures €3.8M in Seed Funding

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