Abzu receives 1MM DKK grant for innovative, explainable artificial intelligence
Abzu receives 1MM DKK grant for innovative, explainable artificial intelligence (AI) from Innovation Fund Denmark’s Innobooster People program.
Innovation Fund Denmark, which supports innovative ideas, established Innobooster People as a COVID-19 response grant to fund promising knowledge-based Danish start-ups. Funded companies must demonstrate a novel and innovative solution, business potential, a clear implementation plan and skilled team, and financial efficiency.
Based dually in Copenhagen and Barcelona, Abzu’s proprietary technology is solving for the current limitations in artificial intelligence. Despite media hype about applications of AI, most companies still struggle to derive tangible business results due to a lack of explainability and transparency. The single most common risk factor with the current generation of artificial intelligence is unexpected outcomes and predictions, and without the ability to inspect and investigate models, there are alarming ramifications for performance, ethics, and privacy.
Abzu’s pioneering machine learning technology, the QLattice, is the next generation of artificial intelligence. The QLattice is a high-performing quantum mechanics simulator that enables users to easily build and train explainable and transparent AI models, essentially eliminating the black box present in current AI models. Abzu’s proprietary innovation completely changes the way problems are solved by introducing traceable and shared insights and a new standard of interpretability.
This funding will be used for research and product development. Abzu is building towards Series A funding in 2021.
For more information on the Innobooster People program funded by Innovation Fund Denmark, visit https://innovationsfonden.dk/en/programmes/innobooster/innobooster-people.
Abzu was born from a desire to challenge the fundamental assumptions of contemporary AI, believing that the future of AI lies in the more lifelike simulation of self-organizing systems. Abzu’s pioneering machine learning technology is inspired by quantum mechanics and neural networks, resulting in a transparent and trustworthy AI. Founded in February 2018, Abzu is an applied research startup with offices in Copenhagen, Denmark and Barcelona, Spain.