DNV establishes venture fund for responsible AI
Høvik, 24 September 2024 – DNV has launched a “Trust in AI” fund and is now actively seeking companies within responsible artificial intelligence (AI). 300 companies have been identified as potential investment targets by DNV’s venture operation.
Danish company 2021.AI has become the fund’s first successful investment. 2021.AI facilitates the scaling of responsible AI, offering software that is implemented alongside AI solutions. This ensures reliability and compliance with the European Union Artificial Intelligence Act.
“This Trust in AI fund will help scale the technology in a safe and sustainable manner. There is a lot happening in this area, and the demand for solutions that build trust in AI will increase significantly, especially in light of the EU’s AI regulation launched in August,” says Kaare Helle, head of DNV Ventures.
DNV Ventures invests in digital-first companies that recognize and leverage the transformations changing all sectors. Established in 2020, DNV Ventures has already invested in 11 companies that align with the company’s overall purpose of “safeguarding life, property, and the environment.”
EU research shows that up to 15 percent of all AI models are, or will be, implemented in critical infrastructure in sectors such as health, energy, and transport in the coming years.
“DNV has extensive experience from sectors such as maritime, energy, and healthcare, which means we understand AI both in isolation and how it works with other complex systems in these sectors. By combining DNV’s research on trust in AI and making more investments in this field, we strengthen our position in responsible AI and AI governance,” says Kjetil Ebbesberg, Group CFO at DNV and head of the investment committee for DNV Ventures.
For more information, please contact:
Nermina Ek, manager of DNV Venture’s «Trust in AI»-fund
About DNV Ventures
DNV Ventures invests globally in digital and software startups that align with DNV’s purpose of “safeguarding life, property, and the environment.” The goal is to promote innovation in maritime transformation, energy transition, cybersecurity, trust in AI, supply chains and assurance of digital assets. With a growing portfolio of forward-looking companies, DNV Ventures demonstrates a unique ability to identify and foster growth in promising startups and through collaboration with DNV and its business areas, actively works to find new customer bases and revenue opportunities.