Overview
Prem AI, a Swiss company that provides infrastructure for operating artificial intelligence models on private systems, is pursuing a $100 million Series A financing and is aiming for a valuation of at least $500 million, the firm said in a statement. The funding effort is expected to conclude in the third quarter, according to the company.
Funding and backers
The startup has previously raised capital, including a $14 million seed round in 2024 and a subsequent $6.1 million bridge round that valued the business at $200 million. Investors associated with Prem to date include Jim Breyer of Breyer Capital, Index Ventures, David Maisel, the founder of Marvel Studios, and Fan Zhang, who co-founded Sequoia Capital China. Prem did not disclose any additional participants in the Series A when it announced the new target.
Business focus and clients
Prem AI supplies technology that allows companies to deploy and run AI models on their own private infrastructure rather than relying on public cloud services. The company reports a client base that includes hedge funds and law firms, customers that frequently handle sensitive data and may therefore prefer on-premises or privately hosted AI environments.
Market context cited by the company
Prem framed the financing within a rising demand from enterprises for private AI deployments, particularly among organizations managing confidential information. The company said the new capital will support its work serving clients that require private deployment options for AI workloads.
Timing and next steps
According to Prem, the Series A round is expected to close in the third quarter. Beyond the announcement of the target raise and the list of known backers, the company has not released a fuller roll call of investors for this round or provided additional details about the use of proceeds in its statement.
Contact and statement
Prem issued the public statement announcing the Series A target and the expected timing for closing. Simone Giacomelli, the company's founder and chief executive officer, is cited in reporting as the source for the target valuation.