Ukrainian startup Byne raises $325,000 to develop AI-based intelligence solutions

Ukrainian defense tech startup Byne has raised $325,000 in its first round of funding. The leader of the investment was a well-known British venture capital fund, which wished to remain anonymous due to the sensitivity of the sector. The company’s co-founder Boris Nadikto told AIN in a commentary.

The startup was founded in 2022 as a volunteer project to help the Ukrainian Defense Forces implement large-scale language models (LLMs). Its founders are Borys Nadykto, Andrii Yakovyna, and Denys Budnyk. Later, Byne started cooperating with service companies requiring AI expertise.

The main goal of the startup is to become the first Ukrainian provider of intelligence solutions for NATO countries.

The team plans to use the funds raised to build a secure AI infrastructure for a major NATO defense contractor and launch a partnership program for service companies working with LLM.

“We are planning to raise $2-3 million in a large investment round next year,” Nadicto adds.

Byne is registered in the UK and operates in the US market, but the core team is based in Ukraine.