Swiss AI startup Giotto.ai seeks $200 million funding at $1B valuation
Swiss AI startup Giotto.ai is hoping to raise over $200 million, aiming for a $1 billion valuation.
Based in Lausanne and founded in 2017, the company wants to use the funds to boost its research, build prototypes for businesses and governments, and share some of its tech as open-source.
This move is part of Europe's push to cultivate its homegrown AI leaders outside the race between the US and China and push for digital sovereignty.
Giotto.ai's unique approach and Europe's AI landscape
Giotto.ai stands out by competing in fixed-resource AI challenges—basically doing more with less—unlike big players like OpenAI who have massive budgets.
With a solid showing on the Kaggle ARC-AGI-2 leaderboard (they scored 25%), they're proving Europe can be competitive in AI.
This funding round will show if investors are ready to back European innovation in a field usually dominated by Silicon Valley.