The Netherlands-based Deeploy, a Machine Learning Operations (MLOps) platform that is working towards making AI explainable, trustworthy and accountable, announced on Wednesday, June 14, that it has secured €2.5M in a Seed round of funding.
Deeploy says it will use the funds to expand its Responsible AI platform to enable any high-impact AI models, ensuring the responsible and transparent use of AI. It will also help the company grow its team to support a European roll-out.
Investors in this round
The round was led by SI3 Fund, who sees supervision and transparency of AI as crucial conditions for the socially responsible use of AI.
Pieter Oostlander, co-founder and partner of the Shaping Impact Group (where the SI3 Fund falls under), says, “With the arrival of AI applications such as the latest version of ChatGPT, we see that the need for explainability and transparency is becoming increasingly loud in society.”
“Because AI learns from human input, human biases can potentially be reproduced. If that happens, AI can increase inequality in society. Especially when victims are fobbed off with just the message: the computer says no,” he adds.
“Deploy AI with confidence”
Founded in 2020 by Bastiaan van de Rakt, Tim Kleinloog, Maarten Stolk, and Nick Jetten, Deeploy is a software company that makes Machine Learning (ML) deployments accountable by giving explainable AI (XAI) a central place in ML operations (MLOps).
The company uses its software to make artificial intelligence understandable and transparent to businesses, their customers, and regulators.
Stolk says, “AI applications are dynamic and often self-learning, which yields the risk of becoming black boxes to end users. It’s crucial to keep an eye on the development of AI, as well as keeping AI-driven business operations explainable with the help of so-called explainability methods, for example towards customers or in the context of compliance.”
Currently, the company has 20 employees, half of whom work primarily on the product and the other half on installation, sales, and marketing.
PGGM, Independer, Brand New Day, bunq, and the mental-healthcare portal NiceDay are among Deeploy’s clients.