According to a press release, LatticeFlow has raised 2.8 million US dollars in a funding round. The round was led by the European risk capital firm btov. Another investor was Global Founder Capital, a technology fund also based in Europe. Both investors have already previously supported prominent companies such as Revolut, Slack, and DeepL.
LatticeFlow was created as a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH) in 2020. It is a start-up that supports companies in developing reliable solutions in the field of artificial intelligence (AI). The press release states that current AI solutions are often susceptible to errors that are frequently recognized by companies when it is too late. LatticeFlow’s team of AI specialists aims to remedy this.
The start-up has already gained several large clients with its offering, including the US army, the German Federal Office for Information Security, and Swiss Federal Railways (SBB), among others.
LatticeFlow’s team of founders comprises four experienced AI researchers from the ETH Zurich. Among them is ETH Professor Martin Vechev, Co-Founder of the start-up DeepCode, which was sold in 2020 to the cyber security unicorn Synk. Together with Petar Tsankow, CEO and Co-Founder of LatticeFlow, Vechev was also involved in founding ChainSecurity, a company that was taken over by PwC in 2020. Furthermore, Vechev and his team at the ETH developed a solution to improve deep neural networks that was selected as the best solution of its kind in the world in 2020.
In addition to Vechev and Tsankow, the founding team includes ETH Professor Andreas Krause and former ETH researcher Pavol Bielik. Among other activities, Krause set up the ETH AI Center.