European AI rising star Nexos.ai raises $30M to unlock enterprise AI adoption

Aiming to bridge the gap between enterprise companies and artificial intelligence, Nexos.ai has successfully raised €30 million (around $35 million) in a Series A funding round. This startup, co-founded by renowned Lithuanian entrepreneurs Tomas Okmanas and Eimantas Sabaliauskas, previously emerged from stealth mode with an $8 million round led by Index Ventures. Nexos.ai offers a platform designed to facilitate the secure adoption of AI tools within organizations, acting as an intermediary between employees and AI systems. Okmanas has voiced concerns about potential data leaks as employees increasingly share sensitive information with large language models (LLMs). Rather than imposing restrictions on AI usage, he envisions Nexos.ai as a neutral ground—essentially a “Switzerland for LLMs.” This approach aims to maintain data security while allowing companies to harness the productivity benefits of AI. The swift success in securing additional funding can be attributed to the experience of its founders in addressing significant enterprise challenges. The latest financing round was co-led by Index and Evantic Capital, valuing Nexos.ai at approximately €300 million (around $350 million). The round also saw participation from previous investors Creandum and Dig Ventures, alongside angel investors including CEOs from notable firms like Datadog, Klarna, Supercell, and Wix. Evantic, a newly established venture firm led by former Sequoia Capital partner Matt Miller, played a crucial role in this funding process, even as Nexos.ai was not actively seeking investments. Okmanas and Sabaliauskas, who previously bootstrapped their cybersecurity company Nord to a valuation of $3 billion, now recognize the value of venture capital support. With Index Ventures backing them, they also benefit from Miller’s expertise and his network of 140 operators who provide insights to Evantic’s portfolio companies. Currently, Nexos.ai's product includes an AI Workspace for employees and an AI Gateway for developers, which serves as a control layer for security, cost management, and compliance—addressing key obstacles to AI adoption. The gateway consolidates access to about 200 AI models, and the newly acquired funding will enhance support for private models that handle sensitive data. Nexos.ai is already conducting 50 to 60 demo calls weekly, focusing initially on tech-savvy firms and those in regulated sectors. The founders identified a governance gap in AI usage while managing their previous portfolio at Tesonet, leading to the development of this innovative solution. As they prepare for expansion across Europe and North America, Okmanas emphasizes the importance of removing barriers to AI adoption. He cites successful applications within Tesonet’s portfolio, like Hostinger, where an AI assistant minimized the need for human support, illustrating the tangible benefits of AI integration. Despite not disclosing specific revenue figures, Okmanas envisions a substantial growth trajectory, projecting that their team will expand to 100 members within a year, tapping into new markets, including public institutions concerned with data sovereignty.