Wodan AI is a European startup building a platform that applies homomorphic encryption so that artificial intelligence models can operate on data without ever decrypting it. This approach is designed to meet the EU’s strict privacy, security, and digital-sovereignty requirements, making it attractive to sectors such as finance, defence, healthcare, and critical infrastructure. The company is relocating its global headquarters and consolidating its R&D team in Madrid to tap Spain’s technical talent pool and create a hub for secure AI. Current development focuses on extending the platform to encrypted computer-vision and large-language-model workloads, enabling large organisations to analyse sensitive data safely. Early validation is under way through a pilot with a Spanish financial institution. Proceeds from its recent financing will fund R&D hiring, accelerate the technical roadmap, and expand commercial capacity across Europe. To date, Wodan AI has raised €2 million in external capital; no additional operating metrics were disclosed.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2025