Investing in Fantix—the first Federated Knowledge Engine


Investing in Fantix—the first Federated Knowledge Engine

Words Founders Factory

October 18th 2023 / 3 min read

We are excited to announce one of our first Italian investments in partnership with Fastweb—Fantix.

The problem

While there is an abundance of data for big tech companies, this isn't the same story for SMEs. First party data is poor, meaning businesses see a small fraction of their consumers’ journey. All this ultimately puts them at a strong disadvantage—it’s estimated that poor data and insights costs businesses between $9-15 million a year. 

There is a huge opportunity here. Around 43ZB (1ZB is a trillion GB) of data sits idle across private companies, organisations, financial institutions, and payment platforms, around 1000 times more than that of all the Big Tech companies combined. 

Making this data accessible would unleash an ocean of knowledge that could dramatically enrich SMEs first-party data, truly levelling the playing field.

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The solution

Fantix is building the first Federated Knowledge Engine (FKE), aimed at allowing companies to answer critical questions about their customers without exchanging any data. 

Its system is designed to leverage the collective intelligence of multiple AI models, helping business analyse, integrate, and derive insights from vast amounts of data across multiple sources. Rather than competing, the system creates a collaborative environment where all AI models work together, gaining insights that are beyond the reach of any single model.

Here’s an example to illustrate how this might work—a collaboration between a bank and a retail train. The bank wants to improve its credit risk models, while the retail chain wants to better understand customer buying patterns. With Fantix's platform, the bank and retail chain can collaborate on a machine learning model that predicts credit risk based on customer purchasing behaviour. The retail chain trains the model on its own data and shares only the model parameters with the bank, ensuring data privacy. The bank can then use this model to make better lending decisions while keeping customer data secure.

Fantix has shown promising early traction, as well as notable interest from investors, closing a $1.6 million seed round with investment from Gaingels, Notion Capital, and Connect Ventures.

The team

Antonio Tomarchio (CEO & Co-Founder)

Antonio is a serial entrepreneur with a proven track record. He has two exits under his belt: adtech business Adright, sold to RCS Mediagroup (Italy’s largest news publisher), and mobile marketing company Beintoo, sold to Mediaset (one of the largest TV networks in Europe). He more recently founded Cuebiq, a geospatial analytics business. 

Filippo Privitera (CTO & Co-Founder)

Filippo’s technical expertise traverses automation, robotics, and complex AI systems. He and Filippo co-founded Beintoo and Cuebiq together, and have worked together for nearly 20 years. 

Fabio Manola (Co-Founder & Head of Operations)

Fabio brings strong technical (coding, data analytics) and founding experience. He was Head of Operations in Italy at Glovo, defining early operations and strategy. He also has an exit under his belt, having founded EatsReady (a foodtech startup) which he recently sold to Coverflex, one of Europe’s biggest HR tech companies. 

Why we’re excited to invest

Edoardo Gentili, investor at Founders Factory, says: “Federated AI is a rapidly growing market. Simultaneously, the problem of managing first party data is becoming more critical, given increasing privacy concerns and regulations. The timing for Fantix AI's entry into the market is ideal, due to the increasing demand for privacy-preserving machine learning solutions, growing public awareness and regulation, and the emphasis on first-party data and privacy-enhancing technologies. With deep domain expertise in big data and AI, the Fantix team is well-positioned to capture this growing market—already evident in their recent seed round attracting investment from several leading investors.”

What Fantix wants to get out of the programme

  • Access to Expertise and Mentorship. We recognize the value of guidance from experienced industry professionals. Through Founders Factory, we hope to tap into the rich pool of mentors and experts to refine our business strategies, product development, and go-to-market plans.

  • Networking and Partnerships. Building strong connections with other startups and established companies can be transformative. We look forward to networking opportunities provided by Founders Factory to form strategic partnerships, collaborations, and valuable relationships within our industry.

  • Product Development and Innovation. Fantix is committed to innovation, and we believe the resources offered by Founders Factory will help us to refine our product and ensure we accelerate towards the fulfillment of our mission of powering free enterprise through federated learning.

Interested in scaling your company with Fastweb?

Submit your application for our FF Italy Accelerator

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