Prem Raises $100M as AI Export Bans Surge

Swiss AI startup Prem SA is raising $100 million in Series A funding at a valuation of at least $500 million, with the round expected to close in Q3. The company sells software for running AI models on private infrastructure, targeting hedge funds and law firms that cannot share sensitive data with third parties. Demand is surging as U.S. export restrictions force companies like Anthropic to block foreign access to key models, pushing regulated firms toward sovereign AI solutions. Prem's new Fluso product offers encrypted, auditable AI workspaces, launching alongside the fundraise. Total funding will exceed $120 million if the round closes successfully.