10.01.2023 / Start-up News
Deal: Wenger Vieli advised Calvin Risk on the closing of its pre-seed financing round of USD 1.5m
Wenger Vieli advised Calvin Risk, a Swiss AI risk assessment start-up, on all Swiss legal aspects in their pre-seed financing round raising USD 1.5m. The round was led by VC investors btov Partners and Wingman Ventures.
The funds are intended to expand R&D headcount and enables the company to continue validating studies for the insurance, pharmaceuticals and tech outreach.
The Swiss start-up was founded as a spin-off from ETH Zurich and develops quantitative solutions to assess and manage the risks of AI algorithms in commercial use. Calvin Risk's software platform aims to calculate the precise probability of technical and ethical failures in AI and solves that problem in offering a standard for a "humanity-centric" automation that is tuned to society's expectations.
The team included Michael Baier (Partner, Venture Capital / M&A) and Dominique Mattmann (Associate, Venture Capital / M&A) from the Wenger Vieli Start-up Desk.