Participated · Seed · Feb 2024

Armilla AI benchmarks and assesses third‑party AI models and then underwrites warranties that reimburse customers for model fees if the model fails to meet agreed standards. The company tests models for hallucinations, racial and gender bias, robustness, security and compliance with emerging regulations such as the EU AI Act and NYC Local Law 144. Armilla launched warranty coverage in late 2023 backed by insurance carriers and serves enterprises and third‑party AI vendors seeking a trust signal to shorten sales cycles. The firm reports roughly 10 customers (including a healthcare client using GenAI on medical records) and says customer traction has been growing ~2x month‑over‑month since Q4 2023. Armilla is based in Toronto and has 13 employees. Proceeds from its recent fundraise will be used to expand its warranty offering and introduce new products. Armilla AI is an all-in-one AI governance platform that automates model testing, validation, and monitoring across the model development lifecycle. The platform continuously runs more than 50 tests to assess robustness, accuracy, fairness, data drift, bias and other faults, and includes Armilla FingerPrint™, a validation framework that learns system sensitivities and riskiest components. Armilla centralizes transparency, auditability, and traceability, enabling executives, managers, risk and compliance teams, and data scientists to collaborate on test results in real time. Customers cited range from financial services to other businesses leveraging machine learning, using the platform to catch issues such as discriminatory credit decisions or faulty insurance pricing. The company announced its launch and $1.5M in funding to support its go-to-market and product activities. Armilla positions itself to help organizations responsibly deploy robust, trustworthy AI models and meet growing regulatory machine-learning compliance requirements through continuous stress-testing and auditable logs.

Participated · Seed · Feb 2023

Kita provides insurance and risk-transfer solutions focused on voluntary carbon markets, including products to protect buyers against transaction risks such as prepaid credits not being delivered. The company works with insurers such as Tokio Marine Kiln and Tokio Marine & Nichido Fire Insurance Co to develop political risk and transaction-risk insurance offerings. Kita is expanding capabilities to include carbon project risk assessments using satellite-based analytics and aims to integrate those with field services provided by partners like Nippon Koei. The expanded partnership with Tokio Marine Group is intended to create a "one-stop" service across the carbon project life cycle, spanning preliminary screening, detailed due diligence, project design and implementation support, and ongoing compliance and monitoring. Kita positions itself to support the growth and integrity of global carbon markets through combined insurance and project support services.