Switzerland-based machine learning analytics startup, Tune Insight has announced it secured a total of $3.4 million from its latest funding round.
The startup was formed when Swiss hospitals approached researchers at the Swiss Federal Institute of Technology (EPFL) asking for a solution that enables collaboration on healthcare projects without compromising patient data confidentiality.
Since Tune’s inception in 2016, its machine learning tech has been deployed at the University Hospital Zurich, CHUV in Lausanne, and Inselspital in Bern, Switzerland. The platform supports applications such as survival analysis for precision oncology, personalised reference ranges, and secure dermatology machine learning.
The oversubscribed investment round was led by 14Peaks Capital with participation from Inflection.xyz, Debiopharm, Wingman Ventures, and Zurich Cantonal Bank.
Discussing the latest investment, Edoardo Ermotti, Managing Partner of 14Peaks Capital said: “We are excited about this partnership and look forward to contributing to Tune Insight's next phase of growth, continuing to revolutionize enterprise collaboration on sensitive and regulated data while mitigating the customary associated risks.”
The startup said the new capital will be used to automate collective intelligence extraction, reduce data liability, streamline compliance, while re-enforcing data security and privacy. It will also use some of the funding to fortify its sales and marketing teams, while driving international expansion in Europe and the US.
Alexander Lange, Founding Partner at Inflection.xyz said: “We believe that AI's bottlenecks won't be software development, tooling or algorithms but access to raw compute and high-quality data sets. Tune Insight is making a breakthrough contribution to the latter by building an operating system for model training on confidential data without leakage.”
The company also offers its solution for other sectors which include cybersecurity, financial services and insurance. And are involved with projects with the procurement branch of the Swiss military, to enhance collective cyber resilience against cyberattacks.
Juan R. Troncoso Pastoriza, CEO of Tune Insight said: “In a data-driven world, protecting data not only at rest and in transit, but also in-use, is paramount. Combined with the increasing need for organizations to work together with others, both for collaborations and valorization, and progress towards more protections for citizens and customer data through regulations like GDPR, robust applied cryptography solutions that combine the best privacy-enhancing technologies are of greatest importance in all domains.”
