Wipro Launches Generative AI Hub, DynamoFL Raises $15.1 Mn For AI

Wipro, an IT services company, has announced the launch of a ‘Center of Excellence’ on Generative Artificial Intelligence (AI) at the Yardi School of Artificial Intelligence (ScAI) at IIT Delhi.

This partnership with the university aims to support research, nurture talent, and advance the field of AI.

Wipro had previously announced plans to invest $1 billion in AI over the next three years and train its employees on AI. The Center of Excellence is part of this commitment.

The center will bring together Wipro researchers, ScAI faculty members, and graduate students to work on real-world problems using AI, machine learning, and other technologies.

The collaboration aims to enhance research and development capabilities and connect with a talent pool to develop advanced solutions for business problems.

The partnership is expected to provide learning and growth opportunities for students and contribute to India’s advancement in AI and related technologies.

Another company, DynamoFL, a startup that focuses on privacy and compliance in artificial intelligence (AI), has raised $15.1 million in a series A funding round. The investment was led by Nexus Venture Partners and Canapi Ventures.

The funds will be used to expand DynamoFL’s team of machine learning scientists and privacy experts, allowing the company to further develop its privacy-preserving generative AI technology.

Other participants in the funding round included Formus Capital, Soma Capital, and angel investors from companies such as Apple and Dropbox.

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DynamoFL, founded by two MIT PhDs, aims to build AI platforms with a strong emphasis on privacy and security.

The company plans to scale its team in India, with a goal of having 25% of its workforce based there. The latest funding round brings DynamoFL’s total raised to $19.3 million.