QuantPi, a startup belonging to the CISPA ecosystem, receives a grant of 2.5 million euros from the European Innovation Council (EIC) to build a platform for trustworthy generative artificial intelligence (AI). It is the second startup in the CISPA community to receive funding from the EIC. Only recently, in the fall of 2023, the startup LUBIS EDA was able to secure an equally large amount of funding.
This significant funding supports QuantPi in its pioneering work for the safe use of generative AI. The startup is working to enable society to live a safe and self-determined life with artificial intelligence. The company intends to use the funding to further develop its current AI-based testing technology in order to build the first automated risk management platform that enables the safety, fairness and explainability of generative AI systems.
QuantPi's technology offers providers of generative AI systems the opportunity to apply the highest ethical standards to their products. Companies looking to purchase GenAI tools can use the platform to automate risk assessment processes during procurement – protecting their customers and ensuring that only high-quality AI is purchased. It also verifies that the AI systems can pass the rigorous tests for compliance with EU standards.
Out of 648 complete applications received by the European Innovation Council, only 7 percent were successful, making QuantPi's success a remarkable milestone. In addition to financial support, all projects will benefit from a range of offers to accelerate their business growth.
QuantPi's CEO, Philipp Adamidis, expressed his excitement about the funding, stating: "This is a testament to the hard work and dedication of the entire QuantPi team. We are excited to use this funding to ensure the safe and responsible use of AI without slowing down progress. The funding not only accelerates our research and development efforts, but also supports our commitment to making a positive contribution to society.”
Professor Dr. Dr. h.c. Michael Backes, CEO and Founding Director of the CISPA Helmholtz Center for Information Security, one of the world's leading cybersecurity research facilities, said: "This is an important milestone for a startup that we have supported from the beginning and the next logical step in QuantPi's technological journey from basic research to industrial application. Ensuring the trustworthiness of AI systems through transparent and scalable testing is a fundamental requirement for all of our lives – especially in the new era of generative AI."
About QuantPi:
QuantPi is an AI trust management company that emerged from the CISPA Helmholtz Center for Information Security in 2020. It enables organizations to validate AI models at unprecedented speed. Automated risk and performance assessments make the black boxes of AI transparent, explainable and compliant. With a commitment to innovation and positive societal impact, QuantPi is dedicated to responsibly shaping the future of AI.
