The round was led by RunwayFBU, followed by Vestland Invest/Erik Langaker, DNV Venture/Kaare Helle, Kevin Bespolka, Göran Lindö, Gunnar Evensen and Magnus Valmot.
Having already started working with the cosmetics industry, including some of the major cosmetics brands, the capital will help build the organization, establish an online marketplace and marketing presense to scale up our footprint in the cosmetics industry, but also get established in other industry verticals says CEO Jørgen Kadal
ComplAI’s technology ensures efficient collaboration across actors (auditors, asset owners, standard owners, consultants & stakeholders) and access to compliance documentation, standards, reporting schemes and customizeable requirement lists. Thus, the solution makes a significantly positive impact on risk, quality, sustainability, ethics, fraud and crime throughout supply chains, and restores trust with stakeholders.
The market is huge. Any company in any industry in any market that needs to apply to a defined set of standards are potential clients.
The company applies to many standards already through clients and pilots engaged. In the cosmetic industry, their clients have seen a significant acceleration in achieving supply chain transparency, enabling them to achieve cruelty-free product labels faster. On average, initial approvals were reduced from 18 months to 6 months +.
ComplAI was founded in July 2021 as a spinout from DNV and has since its start gained good market traction and product development momentum.
Read more about ComplAI here.
