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Sydney AI Firm Apate.ai Secures $11.38m for Major US and UK Expansion

The Australian

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Description

The Sydney start-up that tricks scammers with fake targets has outgrown Australia, raising over $11.3m to take its AI to the US and London.

Summary

Sydney-based startup Apate.ai has raised $11.38 million to expand its generative AI technology designed to counteract telecommunications scams. The company utilizes conversational AI to deploy 'fake targets' that engage scammers in prolonged interactions, effectively wasting their resources and gathering threat intelligence. While the technology demonstrates an offensive use of AI for defensive security, its relevance to catastrophic AI risk is limited to the broader context of malicious AI-enabled influence operations and cybersecurity. The expansion into the US and UK markets highlights Australian innovation in mitigating immediate, AI-driven societal harms like financial fraud.

Body

Sydney scam-fighting firm raises $11m for US pushThe Sydney start-up that tricks scammers with fake targets has outgrown Australia, raising over $11.3m to take its AI to the US and London. All your news for a great price Unlock this story and more with your subscription Digital Access What’s included Unlimited access on app & web A digital version of Today’s Paper Daily puzzles & Mind Games A subscription to The Wall Street Journal Subscriber-exclusive newsletters & early access to tomorrow’s front pages Pay As You Go No lock-in contract $1 a week for 4 weeks($4 min. cost). Then $44 charged every 4 weeks.* *Read the fine print The Australian Digital subscription costs $4 charged for a duration of 4 weeks, after which it automatically renews to $44 charged every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. New customers only. Prices after any early discounted periods may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details. 12 Month Plan Lock in & save $6.50 a week for the first 12 months($338 min. cost) charged as $26 every 4 weeks. Then $26 charged every 4 weeks.* *Read the fine print The Australian Digital subscription 12 Month Plan costs $338 (min. cost) for the first 12 months, charged as $26 every 4 weeks. This automatically renews after the first 12 months to be charged as $26 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12 months. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. New customers only. Prices after the first 12 months may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details. Subscribe Other subscription options Print + Digital Subscriptions Corporate Subscriptions Student Subscription Verified journalism. Expert analysis. Study smarter and stay informed with a student subscription View offer View offer Your Selection: $0 Your Selection – Change selection Today’s Total $0 Read the fine print Terms and Conditions Sorry, we are unable to process your request at this time. Please try again later.