Prem AI, a Swiss startup based in Lugano, is raising $100M in a Series A at a $500M+ valuation. The company builds private, self-hosted AI infrastructure for organizations like hedge funds and law firms that cannot send sensitive data to third-party providers like OpenAI or Anthropic. Its pitch centers on the idea that enterprise AI should be owned, not rented. Alongside the fundraise, Prem announced Fluso, an encrypted AI workspace for running agents and automating tasks within a customer's own environment. Backers include Jim Breyer, Index Ventures, and Sequoia Capital China co-founder Fan Zhang. The company positions itself against the growing risk of 'rented AI' — where sensitive legal, financial, and client data is sent to external servers under third-party terms of service.
