Deeploy raises €1M in its first funding round for further development of its explainable AI software
Since the beginning of Enjins, we have been working on projects that focus on productionizing ML in a reliable and explainable manner. The lessons learned during all these projects were always shared with our partner company Deeploy and their team and brought focus to the product. We congratulate the whole Deeploy team on the closed funding round and look forward to working together on many more projects and ideas.
In its first investment round, Deeploy has closed a €1M round led by venture capital investor Curiosity aimed at further development and company growth.
Deeploy develops software that makes AI explainable, trustworthy, and accountable. With this purpose, the funding will be used for further development aimed at building professional sales organizations seeking international expansion, company growth, and product expansion.
As a new venture capital firm, Curiosity, founded by Herman Kienhuis (previously director of KPN Ventures), and Maurice Beckand Verwee (founder of Crosspring), focuses on supporting European founders in building responsible AI software to have an impact. On top of investment, Deeploy has gotten a partner that shares its vision, understands the challenges of the AI market, and can contribute to Deeploy’s growth in many areas. Moreover, Deeploy will take part in the Curiosity fund, hence being part of their ecosystem. By becoming co-owners of the fund, Deeploy will bring an interest in portfolio growth and will be in direct contact with several experienced advisors, thus encouraging knowledge sharing.
“More available information and smarter technologies for data processing and machine learning mean that AI is on the brink of a breakthrough and will be of great value to countless industries. As a result, attention is also increasing for the accountability of the choices made by algorithms. As an example, the European Union is working on rules regarding transparency and explainability. Deeploy fits in perfectly with these developments and the four experienced co-founders have the expertise to help companies with an effective solution.”
-Herman Kienhuis, co-founder of Curiosity on why they decided to invest in Deeploy
In this new step, Deeploy will take upon the mission of making AI fully explainable to everyone while expanding and growing its community. We look forward to working together on many more projects and ideas along the way!
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