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23/02/2021

Capital increase of 350,000 euros for Arisk, spin-off of the Polytechnic University of Turin

Startup

After the 350,000 euros grant from last May, the start-up of artificial intelligence applied to engineering has closed the funding round reaching the expected total of 700,000 euros

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Arisk, an innovative startup and university spin-off of the Polytechnic University of Turin that develops predictive risk algorithms thanks to artificial intelligence applied to engineering, has announced that it has concluded a €350,000 capital increase, with the entry of private investors from the finance sector. 

The round just concluded is in addition to the grant of another 350,000 euros that Arisk had secured last May 2020, winning the Finpiemonte call for "Support for startups' consolidation and growth programs". The call called for partners or third-party funders to inject new funds into the company, bringing the total round to 700,000 euros, a target that has just been reached.

Arisk was founded in 2017 by Giuseppe Vegas, former president of Consob, along with Valeria Lazzaroli, Beppe di Sisto, Vittorio Pizzorno and professionals with expertise in civil engineering, finance and forensic auditing. Incubated by I3P, since 2019 the startup is a university spin-off of the Polytechnic of Turin. Since the beginning of 2019, Guido Perboli, a professor at the university's Faculty of Management Engineering, has been Arisk's R&D director and, as a result of the latest capital increase, has also become a partner. 

"It is an honor to be accompanied by great professionals in this journey of ours in a world in which data, but especially its interpretation and prediction, are at the basis of the development of all economic activities," commented Giuseppe Vegas, President of Arisk. "We have developed some really powerful algorithms and now we are ready to make them available to companies and public bodies. Thanks to the new injection of capital we will be able to proceed further in our research and propose our technology to an even wider spectrum of potential customers.

Thanks to the use of artificial intelligence, machine learning and neural networks, Arisk analyzes any type of risk and predicts its evolution and economic-financial impact. Arisk helps companies, investors, financial institutions, governments, and public and private organizations understand, quantify, monitor, and manage the risks to which they are exposed on a daily basis. From operational risk to financial risk, Arisk is able to calculate and monitor in various areas and sectors, where the uniqueness lies in providing a unified dashboard in which decision trees and fault trees are able to measure and quantify the probability of loss and financial economic impact. 

"Arisk therefore acts as a support to the public and private sector by being able to have technical-scientific resources, technological systems and operational solutions in order to treat risk as an opportunity for growth, reputational eligibility, competitiveness on a national and international basis," concluded Vegas.


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