Imandra, creator of a cloud-native automated reasoning engine designed to make algorithms safe, has completed a $5 million round of seed funding led by UK and US investors AlbionVC, IQ Capital and LiveOak Venture Partners. The capital will be used to support application of the company’s Reasoning as a Service platform in financial services and other sectors, and to hire more AI, engineering and product specialists. Grant Passmore, co-founder and co-CEO at Imandra, notes that as reliance on complex software grows, advances in AI are needed to ensure the algorithms we depend on are safe, explainable and fair.
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