Israeli cybersecurity startup Modelyo said on October 22 it raised about US$17 million in a funding round led by US-based OlivTree to develop its platform and expand internationally.

Modelyo’s platform lets customers run workloads and AI systems on third-party cloud infrastructure while retaining control of their data and encryption keys through confidential computing and hardware-based encryption.

Other investors included Seth Merrin and David Phelps. Modelyo said it operates in the US, Europe, South Korea, India, and the United Arab Emirates.

The company did not name any customers in the announcement. Modelyo said it collaborates with Nvidia, Intel, and Google; its website describes the platform as built for existing cloud environments.

Modelyo is a startup member of the Confidential Computing Consortium. Cloud providers also offer protections for data during processing.

Data sovereignty rules may support demand. Regulations in some jurisdictions require encryption keys to remain under the control of entities in that jurisdiction.

🔗 Source: Calcalist