Verax has secured $7.6 million in seed funding to enhance its AI governance tools, addressing the growing demand for transparency and accountability in AI adoption.

Information on the Target

Verax is an innovative startup focused on providing businesses with comprehensive control and visibility over the implementation of artificial intelligence (AI) tools within their operations. Founded in late 2023 by seasoned entrepreneurs Leonid Feinberg and Oren Gev, Verax aims to address common concerns surrounding AI adoption, particularly issues related to data security, hallucinations, and transparency. The company has recently secured $7.6 million in seed funding, which will enable it to enhance its product offering and assist enterprises in navigating the complexities of AI deployment.

The company’s flagship product, Verax AI, is designed to offer organizations real-time insights and governance over their AI models in production. This is pivotal for businesses that are hesitant to adopt AI due to fears of financial losses or reputational damage stemming from unpredictable AI behavior. As AI technologies continue to evolve, Verax’s solution is increasingly relevant for companies seeking to harness the power of AI while minimizing associated risks.

Industry Overview in Israel

Israel's technology sector, particularly in AI and machine learning, has gained international recognition for its innovation and robust ecosystem. The country is home to a myriad of startups and established tech companies sp