Investible-backed over-subscribed $1.65 M Seed funding secured by Betterdata

Betterdata, a Singapore-based provider of programmable synthetic data, has raised $1.65 million in a seed round that was oversubscribed and was led by the Asia-Pacific venture capital firm Investible.

In addition to Franklin Templeton, Xcel Next, the Singapore University of Technology and Design, Bon Auxilium, Tenity, Plug and Play, and Entrepreneur First, Betterdata said in a statement on Friday.

Betterdata will make use of the additional funding to introduce its product to the general public, improve its peer-reviewed programmable synthetic data technology stack, which now supports single-table, multi-table, and time-series datasets, and hire new employees, particularly in the areas of sales and marketing as the company grows.

Although Betterdata currently only operates in Singapore, it has long-term plans to spread throughout the Asia-Pacific continent.

Betterdata was founded in 2021 by Chief Executive Officer Dr. Uzair Javaid and Chief Technologist Kevin Yee in response to the growing global data protection regulations and user awareness of privacy concerns.

“Betterdata solves one of the biggest issues the AI industry is facing today: lack of high-quality data that also meets 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, Investible.

By using generative artificial intelligence (AI) and privacy engineering to create synthetic data without erasing any information and guaranteeing the best possible data quality, risk, and fairness guarantees appropriate for business use cases, Betterdata distinguishes itself from traditional data-sharing methods that use data anonymization to destroy information and ensure privacy.

“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.