Giotto.ai, a Swiss AI startup based in Lausanne, is seeking to raise over US$200 million at a valuation above US$1 billion, according to sources.

The company has hired investment bank Lazard to assist with the fundraising process.

Founded in 2017, Giotto.ai focuses on research into reasoning models and previously sold a medical device compliance product to RQM+ in 2022.

The startup has raised CHF 15 million (US$19 million) to date.

Giotto.ai told potential investors that new funding will support AI research, the development of its first commercial prototypes for enterprise and government clients, and the open-sourcing of some of its technology.

The company claims a top position on Kaggle’s ARC-AGI-2 leaderboard in the fixed-resource track, which tests models on general reasoning tasks.

This fundraising comes as European AI investment grows, with firms like Paris-based Mistral AI also securing large rounds.

🔗 Source: Reuters