AIQURIS - A TÜV SÜD Venture

Background

AIQURIS, established in 2024, is a corporate venture of TÜV SÜD, headquartered in Singapore. The company specializes in assisting organizations worldwide with the qualification and integration of artificial intelligence (AI) solutions. AIQURIS's mission is to enable enterprises to adopt AI technologies safely, securely, and ethically, ensuring compliance with industry standards and regulatory requirements.

Key Strategic Focus

AIQURIS focuses on mitigating the risks and uncertainties associated with AI adoption. The company offers a scalable and automated approach to help organizations identify potential risks and define mitigation strategies. Their core objectives include:

Rigorous Evaluation: Conducting thorough assessments of AI solutions to ensure they meet safety and performance standards.

Stringent AI Governance: Implementing robust governance frameworks to manage AI deployments effectively.

Adherence to Industry Standards: Ensuring AI solutions comply with relevant industry standards and best practices.

Regulatory Compliance: Assisting organizations in navigating complex regulatory landscapes to achieve compliance.

Financials and Funding

In December 2024, AIQURIS secured significant seed funding from TÜV SÜD and FutureLabs Ventures (FLV). This investment was facilitated through the Singapore Economic Development Board’s (EDB) Corporate Venture Launchpad program. The funding aims to accelerate AIQURIS's growth, enhance its solutions, and scale operations to meet the increasing demand for trustworthy AI solutions.

Technological Platform and Innovation

AIQURIS offers a comprehensive platform designed to automate and scale AI risk assessment. Key features include:

Complete Visibility: Providing organizations with a full view of all relevant risks associated with their AI use cases and providers.

Unprecedented Detail: Delivering detailed breakdowns of potential risks and tailored mitigation strategies.

Automated Compliance: Identifying relevant standards and regulations applicable to specific AI use cases, ensuring no compliance gaps.

Intrinsic Protection: Assessing and improving organizational maturity against AI risks, offering actionable insights to strengthen risk posture.

Leadership Team

Dr. Andreas Hauser, Founder & CEO: Former member of the Board of Directors at TÜV SÜD Asia Pacific and CEO of TÜV SÜD Digital Service. He holds degrees in Naval Architecture, Computer-Aided Engineering, and a PhD in Applied Mathematics.

Dr. Martin Saerbeck, Founder & CTO: Former CTO at TÜV SÜD Digital Service, leading strategic research and development in AI, Robotics, and IoT technology. He holds a Master's Degree and PhD in Computer Science.

Helene Mayne, Director of Customer Success: An accomplished organizational transformation specialist with extensive experience across APAC and the Middle East. Formerly Director at KPMG Singapore, focusing on change management and client delivery across various market sectors.

Kaiesh Vohra, Head of Product Strategy: A serial entrepreneur, founder of Lucep, AI scientist, and FutureLabs Partner. Formerly a technology strategy consultant with Accenture and External Advisor to McKinsey.

Competitor Profile

Market Insights and Dynamics

The global Testing, Inspection, and Certification (TIC) market was valued at approximately US$151.77 billion in 2023 and is projected to reach US$214.03 billion by 2030, growing at a CAGR of 4.75% during the forecast period. This growth is driven by increasing regulatory requirements and the need for quality assurance across various industries.

Competitor Analysis

Key competitors in the TIC market include:

SGS: A global leader in inspection, verification, testing, and certification services.

Eurofins Scientific: Specializes in laboratory testing services across various sectors.

Bureau Veritas: Provides testing, inspection, and certification services to ensure compliance with standards and regulations.

Intertek: Offers quality assurance services, including testing, inspection, and certification.

TÜV SÜD: A global provider of technical services, including testing, certification, auditing, and advisory services.

Strategic Collaborations and Partnerships

AIQURIS is the result of a strategic collaboration between TÜV SÜD, the Singapore Economic Development Board (EDB), and FutureLabs Ventures (FLV). This partnership was facilitated through the EDB Corporate Venture Launchpad program, which supports companies with venture creation and startup partnerships from Singapore.

Operational Insights

AIQURIS's strategic considerations include:

Market Position: Leveraging TÜV SÜD's established reputation in the TIC industry to position AIQURIS as a trusted partner for AI risk assessment and quality assurance.

Competitive Advantages: Offering a unique combination of AI expertise and TIC experience to provide comprehensive and scalable AI risk management solutions.

Differentiators: Providing automated and detailed risk assessments tailored to specific AI use cases, ensuring compliance with relevant standards and regulations.