Swiss AI lab Giotto.ai is preparing to raise more than $200 million at a valuation exceeding $1 billion, positioning itself as Europe’s latest entrant in the race for artificial general intelligence. The Lausanne-based startup, founded in 2017 by CEO Aldo Podesta, has hired Lazard to advise on the fundraising.
Giotto plans to channel the capital into AI research, the development of its first commercial prototypes with enterprise and government partners, and the open-sourcing of core technology. The company has already raised CHF 15 million and gained recognition for leading results on the Kaggle ARC-AGI-2 leaderboard, where its reasoning models outperform larger rivals at lower cost.
The raise will test investor appetite for a European AGI challenger against U.S. giants like OpenAI and Anthropic, as the region accelerates efforts to build sovereign AI leaders.
