Ukrainian startup LetsData has secured $1.6 million in seed funding to combat the growing threat of online disinformation. The company, founded in June 2022 by Andriy Kusyy and Ksenia Iliuk, uses AI-powered tools to detect and analyze information attacks across social media and news platforms.
LetsData’s technology identifies coordinated behavior, such as bot activity and the spread of harmful narratives, alerting clients to potential threats in real-time. “Our system can detect anomalies like a network of bots rapidly spreading disinformation,” explains Kusyy. “This allows organizations to respond quickly and effectively.”
The funding round was led by SMOK Ventures, with participation from Wayra (Telefonica’s investment arm), 1991 Ventures, Google for Startups Ukraine Support Fund, Startup Wise Guys, and Tilia Impact Ventures. The investment will fuel LetsData’s ambitious growth plans and further development of its AI technology.
“Hybrid warfare and information operations are the new reality,” says Borys Musielak of SMOK Ventures. “LetsData provides a crucial solution for governments and corporations seeking to protect themselves from these threats.”
LetsData already boasts an impressive client list, including a NATO defense ministry and a foreign ministry of another NATO member. The company’s technology has been used to expose sophisticated disinformation campaigns, such as a network of Facebook accounts that artificially amplified content from Russia Today.
Kusyy highlights the “arms race” between those spreading disinformation and those defending against it. “The rise of generative AI has made disinformation campaigns more sophisticated,” he says. “But AI is also a powerful tool for identifying and countering these attacks.”
LetsData is at the forefront of this fight, leveraging cutting-edge AI to protect democracies and organizations from the scourge of online disinformation.
Source: DEV.ua
