Milan-based IdentifAI, a startup specialising in developing and training models to identify AI-generated content, announced on Monday that it has secured €2.2M in a seed funding round.
The round was led by United Ventures, with participation from business angels, including Edoardo Alessandri of Wellness Holding, Matteo Fago, co-founder of Venere.com (now Expedia), and Umberto Paolucci of UP Invest.
The Italian company will use the funds to further develop technology that combat the malicious use of deepfakes.
What does IdentifAI solve?
The generative AI market is rapidly growing and was valued at $45B in 2023. This growth has led to increased demand for solutions to combat the spread of fake content.
The fake image detection market is predicted to increase from $0.6B in 2024 to $3.9B by 2029, with a projected annual growth rate of 41.6 per cent.
The rise of deepfakes presents significant political, economic, and geopolitical threats. In response to these challenges, Marco Ramilli and Marco Castaldo founded IdentifAI to address these threats.
Developed degenerative” AI platform
IdentifAI has developed a technological platform based on “degenerative” AI, capable of recognising with high probability whether an image or video was produced by generative AI or a human being.
With this platform, the Italian company aims to enable every individual, citizen, consumer, and political or business decision-maker to clearly distinguish between content created by artificial intelligence and that crafted by human creativity.
“The technological advancements in generative AI will blur the lines between the physical and digital worlds, making them indistinguishable to the human eye. I believe it is our right to be informed, at all times, about what we use to nourish our minds, which in turn shapes our opinions,” says Marco Ramilli, founder of IdentifAI.
He adds, “This funding will allow us to make further strides in refining our degenerative models, capable of distinguishing between natural and artificial content, often produced by adversarial AI.”
The investor
Based out of Milan, United Ventures is a venture capital firm that supports visionary entrepreneurs in building global technology companies.
With a successful track record that includes Moneyfarm, FaceIT, Fiscozen, and Musixmatch, the VC provides the strategic guidance, collaboration, and expertise rapidly growing companies need to scale responsibly while maximising long-term value creation.
“The investment in IdentifAI aligns with our investment thesis, which focuses on selecting initiatives capable of providing innovative solutions to complex problems, such as mitigating the collateral and potentially negative impacts associated with the advancement of artificial intelligence,” states Massimiliano Magrini, managing partner & co-founder of United Ventures.
“Distinguishing whether the content was created by a human or not is becoming increasingly crucial, and IdentifAI is well-positioned to capitalise on the emerging opportunities in this sector. Marco Ramilli, a second-time entrepreneur, brings a solid track record, technological expertise, and strategic vision, making IdentifAI poised to play a leading role in the deepfake detection industry,” adds Magrini.
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