Deeploy is raising 2.5 million euros in an investment round. The money will prepare the AI company for the upcoming European AI law, to start operating in all of Europe and expand the team.
AI has an increasing number of application areas. The technology can make an employee work more efficiently, but it does not come without risks. For example, an AI application can allow discrimination to creep into the organization. That happens if the model behind the AI tool was trained with training sets that contained a bias.
Deeploy, a Dutch company, sees it the other way around and lets AI help make an organization more objective. For example, it sees opportunities in the financial sector where AI can objectively judge credit applications because it would have no bias like a human person. The company is developing software to help companies understand the opportunities of AI applications in their organizations. It only began his journey in August 2020.
Preparing for AI law
In a recent investment round, the company managed to raise 2.5 million euros, it shared in a press release. The money will be used to build the platform in line with upcoming European legislations such as the AI Act.
Furthermore, there are plans to accelerate the European rollout. Finally, the money will serve to expand the implementation team.