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Funding
FairNow raises USD 3.5 million to advance AI governance solutions
Generative AI Infrastructure
Jun 20, 2024
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Generative AI Infrastructure

Generative AI Infrastructure

Jun 20, 2024

FairNow raises USD 3.5 million to advance AI governance solutions

Funding

  • FairNow, an AI governance software provider, has raised USD 3.5 million in a seed funding round led by Somen Mondal and Shaun Ricci with contributions from numerous angel investors, entrepreneurs, and executives from the domains of AI, HR, and financial services.

  • The raised capital will be used to accelerate FairNow's aim of providing a governance platform to manage AI-associated business and regulatory risks.

  • FairNow operates by integrating AI technology stacks with diverse regulatory norms. The platform is designed to streamline AI governance, thus allowing tech creators to concentrate more on innovation, rather than regulatory compliance. Furthermore, it plays a key role in imparting knowledge about AI governance, regulatory requirements, and trust-building.

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