Calvin Risk secures 4 million US dollars

Marc Nemitz Marc Nemitz | 19.11.2024

Focus on EU AI Act: Calvin Risk accelerates AI governance solutions With fresh capital and strong partners, the Swiss startup is positioning itself as a market leader.

Zurich, November 19, 2024 - The ETH Zurich spin-off Calvin Risk has closed a seed financing round of 4 million US dollars. The round was led by Join Capital and seed + speed Ventures and brings the startup's total funding since its founding in 2022 to over 5 million US dollars. The company plans to use these funds to further develop its AI risk management platform and tap into global markets.

Solutions for AI risks: Transparency and prevention

Calvin Risk is developing a platform that helps companies analyze and manage the risks of their AI systems. The focus is on:

  • Automated testing and quantitative risk assessments prior to implementation,
  • Continuous monitoring of existing AI models,
  • Governance digitization to identify technical, ethical and regulatory risks.

With the upcoming EU AI Act regulations imposing strict transparency and security requirements on AI systems, Calvin Risk provides organizations with tools to comply with regulatory requirements.

Many AI models are black boxes whose decision-making processes are difficult to understand. Our platform enables a preventive assessment to identify risks at an early stage and thus ensure compliance and security.

Julian Riebartsch, founder and CEO of Calvin Risk

Successes and partnerships

Within a year, Calvin Risk has achieved several milestones:

  • Partnerships with institutions such as Aviva, Lloyds Banking Group and Lufthansa Industry Solutions,
  • A certification for the first GenAI model test by TÜV Süd,
  • Winning prestigious awards such as "Model Risk Management Product of the Year" at the Markets Technology Awards 2024.

These successes underline the market validation and need for structured AI governance solutions in industries such as financial services, transportation and telecommunications.

Investors see enormous potential

Alexander Kölpin, Managing Partner of seed + speed Ventures, praises the start-up: "The combination of technological excellence from research and in-depth industry know-how makes Calvin Risk a key player in AI governance."

Tobias Schirmer, founding partner of Join Capital, adds: "Calvin Risk addresses the most pressing challenges of companies in the safe and compliant implementation of AI systems. We see tremendous potential in their vision and team."

Future plans

With the new funding, Calvin Risk will expand its platform, accelerate the development of risk assessment tools and expand its market presence in Europe. The aim is to provide companies with robust and accessible AI governance that is also understandable for senior management.


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Related companies

seed + speed
Investor 2016 Berlin
seed + speed
Venture capital firm from Berlin, investing mainly in (B2B) seed-stage software startups from German-speaking countries.
JOIN CAPITAL
Investor 2015 Berlin
JOIN CAPITAL
Early stage VC focused on pre-series A investments in Industry 4.0 and enterprise tech.

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