Calvin Risk, a Zurich, Switzerland-based platform for AI governance, risk management, and compliance, raised $1.5 million in pre-seed from experienced DeepTech investors btov Partners and Wingman Ventures.
The funds will be used to expand the research and development team and validate the risk quantification approach for the insurance, pharmaceutical, and high-tech industries.
“An organization profits most from our platform if their AI efforts are fairly mature. An example is a company that has already developed and deployed some algorithms but wants to improve its quality and standardization and professionalize the roll-out process”, says Julian Riebartsch, CEO of Calvin Risk. “Furthermore, the more ubiquitous AI becomes at larger organizations, the greater the benefit of our product”.
The Calvin Risk platform called Calvin is a risk management system centered around a company's AI inventory (i.e. the sum total of all algorithms developed for commercial use).
The startup focuses on three specific industries: insurance, pharmaceutical, and tech, enabling team leads, managers, heads of functions, and risk teams to benefit from the overview that the Calvin platform provides.
Company: Calvin Risk AG
Raised: $1.5M
Round: pre-Seed
Funding Month: December 2022
Lead Investors: btov Partners and Wingman Ventures
Additional Investors:
Company Website: https://www.calvin-risk.com/
Software Category: Risk Management
About the Company: Founded in 2022 by Julian Riebartsch, Syang Zhou, and Maximilian Rieder, Calvin Risk is a developer of a risk management platform designed for comprehensive and quantitative solutions to assess and manage the risks of artificial intelligence (AI) algorithms in commercial use. The company's platform manages and mitigates risks and has a risk assessment framework, helping organizations gain control of their artificial intelligence (AI) efforts by managing their risks. Calvin Risk enables it customers to unleash the full potential of AI by turning knowledge of their AI risks into a competitive advantage.
Source: https://www.calvin-risk.com/news/calvin-risk-closes-a-1-5m-pre-seed-round