Prem AI, a startup based in Switzerland, is looking to raise $100 million in a Series A financing round to support its business of helping enterprises run AI models on private infrastructure.

The company is aiming for a valuation of at least $500 million. The fundraising is expected to be completed in the third quarter.

Prem AI raised a $14 million strategic seed round in 2024 from investors including Marvel Studios founder David Maisel, Sequoia Capital China co-founder Fan Zhang and entrepreneur Alan Lipschitz. The company later raised an additional $6.1 million through a bridge round at a $200 million valuation.

The Lugano-based company focuses on AI tools for organizations that require high levels of privacy and data security.

Prem AI recently introduced Fluso, an agentic workspace aimed at helping enterprises automate workflows while maintaining control over sensitive information. Powered by open-source AI models running on Prem’s infrastructure, the platform is designed as an alternative to third-party AI services that process data externally.