Intric raises EUR 3.8 million to scale secure and independent AI capabilities for Europe’s public sector

Swedish AI company Intric has raised EUR 3.8 million in an initial pre-seed round to accelerate the rollout of its platform enabling AI adoption in organisations in the public sector and other industries with high demands on data security and sovereignty. Several profiled European and Swedish investors participated in the capital round.

Intric develops a sovereign AI platform that enables organisations to build, share, and deploy tailor made AI agents and assistants across teams and departments without compromising security, regulatory compliance, or data control. The platform is fully developed in Sweden and is already in use by more than 60 organisations across the Nordics and Germany, powering over 5,000 AI agents and assistants.

“Organisations with high regulatory requirements on data protection and sovereignty should not run the risk of being excluded from the latest advances in AI development. We see strong and growing demand for an easy-to-use AI platform that allows subject matter experts across organisations to use AI in a secure environment, independently and with full control over their data. We work very closely with our customers to continuously build and improve the platform, centered around their real-world needs. The additional funding will further strengthen our capabilities to deliver an even better platform for our current and future users”, says David Wallén, Founder and CEO of Intric.

The investment round was led by the VC fund byFounders and includes a total of ten investors, among them Carl-Henric Svanberg (former Chairman of Volvo & chair to the Commission on AI to the Swedish government), and well-known Swedish business angel Mattias Miksche.

”I share Intric’s belief that there should be no trade-off between efficient AI adoption and strong requirements on data security and sovereignty. Given today’s turbulent geopolitical landscape, the demand for AI platforms developed in Europe, and securing sovereign control over data, will only continue to grow”, says Carl-Henric Svanberg.

”We believe AI will change the world fundamentally. In order for this change to be positive for society, governments and enterprises need to get the most value from AI. We believe the team at Intric is perfectly placed to make that happen and we see great potential for expansion, both into other European markets and into further sectors with high regulatory requirements”, says Sara Rywe, partner at byFounders.

The additional funds will be used to expand Intric’s implementation and engineering teams to strengthen partnerships with existing users and further develop the platform, making it scalable for large and complex organisations while maintaining its low barrier of entry.