Espoo-based Saidot, a Finnish AI governance startup with a platform that helps enterprises and governments unlock the benefits of AI safely, secures a €1.75 million seed funding round led by Crowberry Capital, a venture capital firm based in Iceland and Denmark that invests in seed and early-stage startups across the Nordics, and Finnish investment firm Ventic.
Together, Crowberry Capital and Ventic invested €1.5 million in the seed round, with Business Finland adding another €250,000 after selecting Saidot to its “Young Innovative Companies” funding programme.
With this investment, Saidot plans to grow the sales of its AI governance Software-as-a-Service (SaaS) platform in Europe and launch new tools to help enterprise and government customers evaluate and implement safety systems for their generative AI systems.
Founded in 2018, Saidot has already acquired customers both in public administration (e.g. the Scottish Government) as well as the private sector (e.g. Deloitte).
“I am thrilled about this new phase of our growth journey. With the rapid advancements of AI, governance and safety have become critical factors for our clients’ generative AI successes. We are dedicated to helping our customers align their AI with human values and deploy it in compliance with the growing regulatory requirements,” said Meeri Haataja, CEO and Founder at Saidot.
Haataja is a pioneer in responsible AI. She has chaired IEEE’s responsible AI initiatives and is currently on the Safety Advisory Board of Snap Inc.
“We have created a strong connection with our investors during the discussions, and I am confident that together we will accelerate our growth and make Saidot the go-to partner for AI governance and alignment”, added Veera Siivonen, Chief Commercial Officer and Partner at Saidot.
Siivonen is a seasoned business leader with extensive experience in digital transformation from health and media industries.
“We are incredibly excited to be backing Saidot. The potential does not lie in just their unique platform but in the great mission that they are on – enabling safe, ethical and trustworthy AI as a force for good in the world”, commented Helga Valfells, Founding Partner at Crowberry Capital.
Read the orginal article: https://www.eu-startups.com/?p=269499
