Unbound Raises $4mn to Help Firms Use AI Without Losing Control
The widespread adoption of Artificial Intelligence (AI) in various industries has brought about numerous benefits, such as improved efficiency, enhanced decision-making, and increased productivity. However, this proliferation of AI has also raised concerns about data security, model governance, and cost transparency. To address these issues, Unbound, a startup founded by Rajaram Srinivasan and Vignesh Subbiah, has raised $4 million in seed funding to help companies adopt AI securely and maintain control over their data, models, and costs.
The funding round was led by Race Capital, with participation from other prominent investors. The seed funding will be used to further develop Unbound’s AI Gateway, a platform designed to provide IT teams with a centralized control over AI deployments. This platform aims to prevent data leaks, improve governance, and ensure cost transparency, making AI adoption safer, more visible, and cost-efficient for enterprises across the tech and healthcare sectors.
The need for AI gateways has never been more pressing. As AI becomes increasingly ubiquitous, the risks associated with its misuse are growing. Data breaches, model bias, and uncontrolled costs are just a few of the concerns that companies face when implementing AI solutions. Unbound’s AI Gateway addresses these issues by providing a secure, transparent, and scalable platform for AI deployment.
The platform allows IT teams to have complete control over the AI models and data used in their organization. This includes the ability to monitor and manage AI models, ensuring that they are aligned with the company’s goals and values. Additionally, the AI Gateway provides real-time visibility into AI costs, enabling IT teams to optimize their AI infrastructure and reduce costs.
Unbound’s AI Gateway is designed to be highly scalable, making it suitable for organizations of all sizes. The platform supports a wide range of AI frameworks and tools, including TensorFlow, PyTorch, and scikit-learn. This means that companies can deploy AI solutions using their preferred frameworks and tools, while still benefiting from the security, governance, and transparency features of Unbound’s AI Gateway.
The funding announcement comes at a time when AI adoption is accelerating across various industries. According to a report by MarketsandMarkets, the global AI market is expected to reach $190 billion by 2025, growing at a Compound Annual Growth Rate (CAGR) of 38.1% during the forecast period.
However, the growth of AI adoption has also raised concerns about data security and model governance. A report by the Ponemon Institute found that the average cost of a data breach in the United States is $3.92 million. Furthermore, a report by the IEEE found that 62% of AI and machine learning professionals are concerned about the potential risks associated with AI bias.
Unbound’s AI Gateway is designed to address these concerns by providing a secure and transparent platform for AI deployment. The platform uses advanced encryption and access controls to ensure that AI models and data are protected from unauthorized access. Additionally, the platform provides real-time monitoring and logging, enabling IT teams to detect and respond to potential security incidents quickly and effectively.
In conclusion, Unbound’s $4 million funding round is a significant milestone in the company’s mission to make AI adoption safe, visible, and cost-efficient for enterprises. The AI Gateway platform provides IT teams with a centralized control over AI deployments, ensuring that data, models, and costs are secure, transparent, and scalable. As AI adoption continues to accelerate across various industries, Unbound’s AI Gateway is poised to play a critical role in ensuring that AI is deployed responsibly and effectively.
Source: https://startuptalky.com/news/unbound-raises-4-million-funding/
