Wodan AI Secures €2M Funding To Advance Sovereign Data Security In Europe

The round was led by Spanish funds JME Ventures, Swanlaab, and Adara Ventures, with additional participation from ScaleFund in Belgium.

Wodan AI is a European company developing homomorphic encryption technology for use in artificial intelligence. Its platform enables machine learning, computer vision and large language models (LLMs) to operate on encrypted data without the need for decryption, thereby reducing exposure of sensitive information.

The platform ensures compliance with the EU's strict privacy and digital sovereignty regulations making it especially valuable for sectors such as finance, defense, healthcare and critical infrastructure.

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Commenting on the investment, Bob Dubois, CEO and co-founder of Wodan AI, stated that the funding will support the company's efforts to expand its technology and strengthen its position in the European secure AI landscape.

Recent advances in homomorphic encryption allow, for the first time, large organisations to use artificial intelligence on sensitive data without compromising security.

The company is making Spain a key part of its European strategy by moving its global headquarters to Madrid and consolidating R&D there, focusing on advanced cryptography, machine learning, and privacy technologies.

It is also running pilot projects with a Spanish financial institution, validating encrypted AI for critical-sector applications.

Spain has the technical talent required to develop critical sovereign AI technologies. With our headquarters, R&D centre and team growth in Madrid, we aim to consolidate a European hub of reference in private, secure AI designed for the most demanding sectors, adds Manuel Pérez Yllan, CTO and co-founder of Wodan AI.

The funding will support R&D hiring, accelerate the technical roadmap, and expand the platform to include more advanced encrypted computer vision and LLM capabilities, with the goal of deploying these technologies at scale. It will also be used to strengthen commercial capacity and pursue contracts with European organizations in strategic sectors.

About Wodan AI

Wodan develops technology that keeps data secure during processing. Its platform uses encrypted-in-use methods and secure computing enabling organizations to handle sensitive information safely, ensuring privacy and compliance without exposing the underlying data.