Total amount raised
$1.6 Million
Latest funding date
04/01/2023
Location
Title
Betterdata has successfully raised funding to advance its synthetic data solutions, which transform production data into privacy-preserving synthetic data. The platform offers faster access to data, enhanced privacy, and improved fairness in AI models.
Keep reading to explore the intricacies of Betterdata's fundraising journey and the investors backing this innovative platform.
What Is Betterdata?
Betterdata, based in Singapore, specializes in creating synthetic data solutions that transform production data into privacy-preserving synthetic data. The company is located at PIXEL at One North, 10 Central Exchange Green, Singapore 138649.
Founded by a team of experts, Betterdata aims to provide faster, safer, and better data for various applications. Their synthetic data solutions enable businesses to share, access, and build with data safely across teams, businesses, and international borders.
While the exact number of employees and the names of the founders are not explicitly mentioned, Betterdata continues to grow and innovate in the field of synthetic data.
How Much Funding Has Betterdata Raised?
- Seed Round
- Amount Raised: $1.55 million
- Date: April 2023
- Lead Investors: Investible
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To use the funds for product launch, enhance the programmable synthetic data tech stack, hire more employees, and expand beyond Singapore to more of the Asia-Pacific region.
Total amount raised: $1.55 million. Current valuation: Not publicly disclosed.
Key Investors
- Investible
- Details: Investible is an early-stage investment group based in Australia. They focus on identifying and supporting high-potential startups globally.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Canva, Ipsy, Brandless
- Franklin Templeton
- Details: Franklin Templeton is a global investment firm headquartered in the United States. They manage a wide range of investment strategies and assets.
- Investment Focus Areas: Equities, fixed income, alternatives
- Notable Investments: Peloton, Uber, Airbnb
- Xcel Next
- Details: Xcel Next is a venture capital firm that invests in innovative technology startups. They are known for their strategic support and mentorship.
- Investment Focus Areas: Technology, AI, fintech
- Notable Investments: Not publicly disclosed
- Singapore University of Technology and Design
- Details: The Singapore University of Technology and Design (SUTD) is a leading research university in Singapore. They focus on fostering innovation and entrepreneurship.
- Investment Focus Areas: Technology, design, engineering
- Notable Investments: Not publicly disclosed
- Bon Auxilium
- Details: Bon Auxilium is an early-stage investment firm that supports startups with high growth potential. They provide both financial and strategic support.
- Investment Focus Areas: Early-stage startups, technology, healthcare
- Notable Investments: Not publicly disclosed
What's Next for Betterdata?
Betterdata stands at the cusp of significant opportunities, driven by the global emphasis on data protection and privacy. Their synthetic data solutions can help businesses comply with stringent regulations like GDPR and HIPAA, while also addressing data imbalance issues. This positions Betterdata to play a crucial role in the AI industry, which is in dire need of high-quality, privacy-compliant data.
With the successful seed round behind them, Betterdata is poised for future fundraising to support their expansion plans. As they enhance their tech stack and grow their team, additional funding will be essential to scale their operations across the Asia-Pacific region and beyond. However, they will need to navigate challenges such as competition and varying data protection laws in different countries.
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