SydeLabs Secures $2.5 Million to Bolster AI Security Solutions

Team SydeLabs
Preeti Bali / 9:30 am / April 1, 2024

SydeLabs, a recently launched artificial intelligence (AI) security and risk management startup, has secured $2.5 million in seed funding. The round was led by venture capital firm RTP Global, with participation from Picus Capital and a group of angel investors.

Focus on Product Development and R&D

SydeLabs plans to utilize the funding to accelerate product development and research and development (R&D) efforts. Founded in January 2024 by Ruchir Patwa and Ankita Kumari, the Bengaluru-based company aims to address the growing need for robust security solutions in the realm of enterprise AI adoption.

Inspiration from Prior Experience

Patwa and Kumari’s experience working with AI at the Mobile Premier League (MPL) played a key role in their decision to launch SydeLabs. Kumari, who led the product management team at MPL, observed that while AI tools optimized the platform’s technology functions, they also introduced new cybersecurity threats.

Addressing Gaps in Traditional Security

Recognizing the limitations of traditional cybersecurity measures in safeguarding AI systems, Kumari partnered with Patwa, who oversaw security and compliance at MPL. Together, they set out to develop solutions that mitigate the risks associated with enterprise AI adoption.

Unique Challenges of AI Security

“AI systems are inherently different from traditional systems,” explained Kumari. “This is why traditional cybersecurity approaches are inadequate for AI security. AI systems are probabilistic, unlike the deterministic systems we’re accustomed to. For instance, a traditional system consistently delivers the same answer to a repeated question. However, AI-generated responses can vary. Consequently, AI-powered technologies require distinct safeguards beyond traditional cybersecurity measures.”

SydeLabs Product Suite

SydeLabs is developing a suite of products to address the security risks posed by AI tools, which often have access to an organization’s internal data.

  • SydeBox: This flagship product is an automated scanner that detects vulnerabilities in AI applications before deployment. SydeBox scans AI tools and generates detailed reports, allowing companies to identify and rectify potential issues within the AI product. Launched in beta earlier this month, SydeBox empowers organizations to proactively address AI security concerns.

SydeLabs is actively developing additional tools to further enhance AI security for enterprises. The influx of funding will enable the company to refine its existing products and bring its future offerings to market.

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