Ukrainian AI Startup Byne Secures $325,000 for Defense and Civil Intelligence Solutions

by Roman Cheplyk
Monday, April 29, 2024
Ukrainian AI Startup Byne Secures $325,000 for Defense and Civil Intelligence Solutions

Byne, a Ukrainian startup specializing in artificial intelligence (AI) solutions for both defense and civil sectors, has successfully raised $325,000 in its initial funding round

Co-founder Borys Nadykto informed that the investment was led by a prominent British venture fund, which has opted to remain anonymous due to the sensitive nature of the defense-tech sector.

Startup Overview: Founded in 2022, Byne initially started as a volunteer project aimed at developing a secure infrastructure for deploying large language models (LLM) to assist the Defense Forces of Ukraine. The startup was established by Borys Nadykto, Andriy Yakovyna, and Denys Budnyk and has since expanded its services to include collaborations with service companies requiring robust AI capabilities.

Future Plans: Byne is now gearing up to broaden its affiliate program to encompass both outsourcing and product companies. Borys Nadykto stated, "Our goal is to become the premier provider of intelligence solutions with Ukrainian origins for NATO countries."

Utilization of Funds: The funds from this round will be allocated towards:

  • Establishing a significant partnership with one of NATO's leading defense contractors to develop secure LLM deployment infrastructure. The contractor's name remains undisclosed due to ongoing approval processes.
  • Launching an affiliate program for service companies that necessitate access to enterprise-level LLM deployment expertise and solutions.

Looking Ahead: Byne anticipates a larger funding round, potentially between $2-3 million, next year contingent on the fruition of current negotiations in both the military and civilian domains.

Company Operations: While Byne is registered in the United Kingdom and operates within the US market, the core team remains based in Ukraine, underscoring the company's commitment to its roots and the global applicative potential of its developments.

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