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With regulation looming, Citrusx helps ensure AI models are in compliance | TechCrunch

Dec 11, 2023 - techcrunch.com
Citrusx, an Israeli startup, has secured a $4.5 million seed investment to develop a software service that helps companies comply with both internal rules and government regulations on AI. The company, founded by Noa Srebrnik and Gilad Manor in 2021, aims to expedite the process of taking AI models to production, which currently can take six to nine months. The software will ensure AI models are working correctly, can be trusted, and are in compliance with regulations.

The seed funding round was led by Canadian venture firm Awz, with contributions from several angel investors. Srebrnik, who previously ran compliance at the Bank of Israel, emphasizes the importance of diversity in the workforce and aims to lead by example as a woman CEO. The company currently has a dozen employees.

Key takeaways:

  • Citrusx, an early stage startup from Israel, has raised $4.5 million in seed funding to develop a software service that helps companies comply with internal rules and government regulations on AI.
  • The company was founded by Noa Srebrnik, former compliance officer at the Bank of Israel, and CTO Gilad Manor in 2021.
  • The software ensures AI models are working properly, can be trusted, and are in compliance with regulations. It also ensures the models remain relevant with updated data.
  • The seed funding round was led by Canadian venture firm Awz and included participation from several angel investors.
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