Apate.ai, an Australian startup founded in 2024, has raised $8.15 million in seed funding, bringing its total funding to just under $10 million. The company deploys thousands of AI agents that masquerade as innocent victims to engage with fraudsters, aiming to collect intelligence such as bank accounts, crypto wallets, and malicious websites before real victims are harmed. Apate.ai claims its agents have wasted 17 years of scammers' time across 2.5 million conversations, and its customers, including Commonwealth Bank of Australia, have seen a 76% drop in publicly reported scam losses. The company plans to use the funds for product development and international expansion, including opening a London office and expanding in the U.S. The FBI reported over 22,000 AI-related crime complaints in 2025, resulting in approximately $893 million in losses, with over $632 million from investment scams using AI.