(L-R) Betterdata Co-Founders Uzair Javaid and Kevin Yee
Singapore-based programmable synthetic data company Betterdata has raised an over-subscribed seed round of US$1.65 million led by Asia-Pacific-based early-stage VC firm Investible.
Franklin Templeton, Xcel Next, Singapore University of Technology and Design, Bon Auxilium, Tenity, Plug and Play, and Entrepreneur First also joined the round.
Betterdata will use the new funding to publicly launch Betterdata’s product and enhance its technology stack, including support for single-table, multi-table, and time-series datasets. A portion of the money will go into hiring, especially sales and marketing positions for business development as the company scales.
The startup, which currently operates in Singapore, also plans to expand across Asia Pacific over the next one to two years.
Betterdata was founded in 2021 by CEO Dr Uzair Javaid and CTO Kevin Yee.
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Increasing data protection regulations in the world make data sharing extremely slow for engineering and data science teams. Betterdata makes data sharing instant with Generative AI and Privacy Engineering by converting real data into limitless synthetic data that looks, feels, and behaves just like your real datasets.
As synthetic data is artificially generated, it does not belong to real users and can be shared globally with 100 per cent compliance with local, regional, and international privacy laws.
“Betterdata solves one of the biggest issues the AI industry is facing today: lack of high-quality data that also meet privacy requirements. Through its powerful platform, Betterdata generates synthetic data that mimics real-world data without compromising quality and privacy, helping businesses meet global compliance and privacy laws at scale,” said Khairu Rejal, Principal of Investible.
“Data protection including user privacy, consent, copyrights, and compliance are on top of minds of CISOs today. Betterdata’s GenAI models can generate synthetic data at scale in a non-bias, highly accurate, and privacy-preserving way. We believe this is, and will be essential in many business verticals as the new wave of GenAI systems become mainstream,” said K. Yu, Founding Partner, Xcel Next.
Betterdata has recently entered into two R&D partnerships with leading academic institutes in Singapore and the US. Its product is used by customers Fortune 200 firms, Public Agencies, and AI startups.
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