Abzu® receives 1 million DKK grant for innovative, explainable AI.

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 predictions1, 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.

Citations.

1 AI Adoption in the Enterprise 2020. Roger Magoulas and Steve Swoyer.

About Abzu.

Founded in 2018, Abzu® builds trustworthy AI to tackle complex challenges for the world’s leading companies. Abzu established itself as a global leader in explainable, rational, and safe AI in the pharmaceutical industry, contributing to new discoveries in disease understanding and RNA therapeutics. Today, Abzu’s technology accelerates new insights and understanding in pharma R&D and transforms critical and complex business processes for enterprise operations.

Abzu has offices in Copenhagen and Barcelona, and has raised €13.3M in total funding to date. Abzu has been mentioned in Gartner® research, from Market Guides for AI Trust, Risk, and Security Management to CoolVendor™, and is the winner of several awards, including the 2023 “Best HealthTech” Nordics Award at the Nordic Startup Awards. For more information, visit www.abzu.ai.

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