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Citrusx emerges from stealth to make AI explainable, streamline compliance for enterprises

Dec 11, 2023 - venturebeat.com
Citrusx, a Tel Aviv-based startup, has emerged from stealth, announcing it has raised $4.5 million in a seed funding round led by Canadian VC Awz and various angel investors. The company, founded two years ago, aims to simplify compliance for AI companies and their customers by making AI technology explainable. Its platform allows stakeholders to understand the AI models they use and assess their performance. The platform also provides clear reports on a model's performance and suggests steps to reduce potential risks.

The company's offering is particularly relevant as countries worldwide are looking to regulate AI technology. Citrusx's platform could help teams navigate these regulatory frameworks with robust and fair AI. The company has already begun working with some customers, including publicly listed companies in regulated industries such as finance and security. Citrusx claims its technology ensures 100% transparency and can lead to an 82% faster time to production.

Key takeaways:

  • Citrusx, a Tel Aviv-based startup, has raised $4.5 million in a seed round of funding for its platform that makes AI technology explainable and ensures regulatory compliance.
  • The platform provides clear reports on AI models, covering the entire AI lifecycle from development to production, and helps bridge the gap between technical and non-technical teams.
  • The company claims its patent-pending technology ensures 100% transparency and can lead to 82% faster time to production, boosting return on AI investments.
  • With countries moving aggressively to regulate AI, tools like Citrusx that help teams navigate regulatory frameworks with robust and fair AI are becoming increasingly important.
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