Calvin Risk secures financing in the amount of 4 million dollars

Calvin Risk, a company specializing in AI risks, has secured funding of 4 million dollars. According to a press release, the Kloten-based start-up was financed in a seed round led by JoinCapital and seed + speed Ventures. This brings the total amount of financing provided since the company was founded in 2022 to over 5 million dollars.

Calvin Risk, a spin-off of the Swiss Federal Institute of Technology in Zurich(ETH), intends to use the fresh capital to further improve its product development in the field of AI risk assessment for companies and expand its market position. The platform developed by Calvin Risk allows companies to test and monitor the AI solutions they introduce. This ensures that these implementations also comply with the EU AI Act and other legal regulations. The company's platform allows risks in the development and provision of programs created with artificial intelligence to be checked and documented in real time.

"As AI systems become increasingly important to operations, appropriate corporate governance must now include explicit AI risk management at board level," Julian Riebartsch, CEO and founder of Calvin Risk, is quoted as saying in the press release. "Through our governance and risk management platform, we offer companies deep insights into their AI portfolio and enable them to analyze technical, ethical and regulatory risks qualitatively and quantitatively." ce/ww