EchoVC announced its recent investment in Kosa.ai, an artificial intelligence startup that offers an automated responsible AI platform to support enterprises that build and deploy AI systems. Kosa.ai, an AI startup based in Amsterdam,Netherlands and Nairobi, Kenya, mission is to build more inclusive technologies and eliminate bias by building a distributed and diverse workforce. APX, The Dale Mathias, TheContinent Venture Partners, Fine Day Ventures, and Arch Capital also participated in the pre-seed round.
Kosa.ai was founded by Layla Li and Sonali Sanghrajka. Kosa.ai has developed many AI driven solutions and algorithmic software that enables large enterprises in healthcare, financial services, and the public sector to understand and mitigate AI bias and risks.
The pandemic has no doubt spurred investments in AI across many industries. According to CB Insights’ AI in Numbers 2021 Q2 reports, more than $20 billion was invested into different AI startups across the globe with US and China leading the race. By 2024, investment is expected to reach an estimate of $110 billion.