Finnish AI governance startup Saidot has successfully secured €1.75 million in seed funding through a round led by Crowberry Capital, a venture capital firm with a focus on Nordic seed and early-stage startups. Ventic, a Finnish investment firm, also participated in the funding round, contributing to the €1.5 million raised. Additionally, Business Finland, a Finnish governmental funding agency, added €250,000 to the investment, selecting Saidot as part of its "Young Innovative Companies" funding program.
Saidot, headquartered in Espoo, Finland, has developed a platform designed to assist enterprises and governments in harnessing the benefits of artificial intelligence (AI) in a safe and responsible manner. The company's AI governance Software-as-a-Service (SaaS) platform aims to ensure that AI systems are utilized safely and in compliance with regulations.
With this recent funding injection, Saidot plans to expand its sales efforts for the AI governance platform across Europe. Furthermore, the company intends to introduce new tools that will help its enterprise and government clients assess and implement safety measures for their generative AI systems.
Saidot, founded in 2018, has already gained traction in both the public and private sectors, counting the Scottish Government and Deloitte among its customers. The startup is committed to assisting clients in aligning their AI applications with human values while ensuring compliance with evolving regulatory requirements.
Meeri Haataja, CEO and Founder of Saidot, expressed her excitement about the growth opportunities enabled by this investment, emphasizing the critical role of governance and safety in the success of generative AI systems. Haataja is recognized as a pioneer in responsible AI and has chaired IEEE's responsible AI initiatives while serving on the Safety Advisory Board of Snap Inc.
Veera Siivonen, Chief Commercial Officer and Partner at Saidot, highlighted the strong partnership with investors and the company's mission to become the go-to partner for AI governance and alignment.
Crowberry Capital, one of the lead investors, shared its enthusiasm for backing Saidot and its mission to promote safe, ethical, and trustworthy AI as a force for good in the world.
Saidot's focus on AI governance and its commitment to responsible AI align with the growing recognition of the importance of ethics and compliance in AI technologies, making it a significant player in the evolving AI landscape.
This latest funding round positions Saidot to further develop its platform, expand its market reach, and continue its mission to ensure that AI technologies are harnessed for the benefit of society while upholding ethical and regulatory standards.
