Calvin Risk, a Zurich, Switzerland-based provider of a risk management system, raised $1.5M in Pre-Seed funding.
The round was led by btov Partners and Wingman Ventures.
The company intends to use the funds to expand the research and development team and validate the risk quantification approach for the insurance, pharmaceutical and high-tech industries.
Led by CEO Julian Riebartsch, Calvin Risk provides a platform called Calvin, that is a risk management system centered around a company’s AI inventory. Companies can quantify the technical, ethical, and regulatory risks of their AI portfolio by completing the platform’s adaptive assessment tasks at each stage in an algorithm’s lifecycle. The result provides an overview and insights into the change in risk levels over time and other important factors, both at the level of individual algorithms and at the portfolio level. The platform also calculates the probability of an adverse incident happening as well as the potential costs of those risks. A wide array of functions, from team leads, to managers, head of functions, and risk teams, benefit from the overview that the Calvin platform provides. This includes the ability to continuously monitor their entire AI efforts across all departments of an organization and automatically report on the status of their AI portfolio.
FinSMEs
14/12/2022