Belfast-based AI governance startup, Enzai, has secured £3.2 million in funding. The rapid advancement of AI technologies is driving organizations across various industries to adopt and develop AI solutions at an exponential pace. However, in this expanding regulatory environment, and with consumers expecting organizations to take responsibility for any misuse of AI, leaders must prioritize its governance.
Businesses operating in inherently risky domains such as financial services, healthcare, and insurance need to understand, manage, and comply with AI-related risks and regulations. Enzai is dedicated to providing organizations with a comprehensive toolkit to navigate these complexities and ensure that powerful AI technologies can gain the necessary level of trust to realize their full potential.
Founded by Ryan Donnelly, a prominent lawyer in the AI regulation field, and Jack Carlisle, an experienced software engineer, Enzai brings together legal, engineering, and data science expertise to develop a solution in this area. The team of expert lawyers at Enzai is constantly monitoring AI-focused regulatory developments worldwide and responding quickly with new frameworks and features to keep their customers ahead of the curve.
“Our vision at Enzai is to empower organizations to harness the incredible potential of AI while minimizing the associated risks,” said Donnelly. “As AI continues to evolve and permeate every industry, building and adopting it in a responsible and compliant manner has never been more crucial. This financing further strengthens our commitment to enable businesses to innovate in AI with confidence, safeguarding against potential pitfalls and paving the way for a future where AI drives progress and responsibility.”
Enzai’s platform enables organizations to create an inventory of their AI solutions, apply policies and procedures, and measure compliance in real-time. The introduction of the “Controls” feature brings a new paradigm for building and using AI, allowing cross-functional teams to collaborate and assess AI systems seamlessly.
“We ensure consistency and scalability, enabling organizations of all sizes to efficiently manage their AI governance efforts,” added Carlisle. “Our platform facilitates seamless collaboration between business, legal, and technical teams, bridging the gap between domain-specific expertise, regulatory knowledge, and data science.”
The funding round was led by Cavalry Ventures, with participation from existing pre-seed investor Techstart Ventures, Seedcamp, and angel investors such as Paul Forster (founder of Indeed.com), Sam Gill (co-founder of Seedcamp-backed Sylvera), and Alexandre Berriche (founder of Fleet).
Seedcamp partner Tom Wilson commented, “We are all grappling with the immense power of AI technologies. Given its rapid development rate, it is vital that we find ways to harness its potential for positive impact. We are thrilled to support Enzai as one of the first investments from our new Fund VI. The Enzai team has identified a strong approach to managing AI risk, and their technology is set to become a foundational part of the AI ecosystem.”
Enzai’s funding success highlights the importance of AI governance in today’s business landscape. With the right tools and frameworks in place, organizations can confidently embrace AI innovation while minimizing risks and ensuring compliance. Enzai aims to be at the forefront of this movement, empowering businesses to navigate AI complexities and unlock the full potential of this transformative technology.
