Meet Singapore's Betterdata! They allow companies to generate datasets through computer-generated synthetic data that's faster, safer and fairer than real data. Founded in 2021, they've just raised a $1.65M seed round.

• They're doing R&D partnerships with two major universities in Singapore and the US and have clients like Shanghai Pudong Development Bank.
  

Investor check. Investible led the round. Franklin Templeton, Xcel Next, Singapore University of Technology and Design, Bon Auxilium, Tenity, Plug and Play and Entrepreneur First also joined in!

🧠 The context

One of the biggest problems in AI is that there isn't enough high-quality data that meet privacy requirements. (And FYI, global compliance and privacy regulations and requirements are increasing over time).

• Data privacy is important, but this means companies will lack even more data.
  

Plus, traditional data-sharing methods anonymize the data they receive.

• The issues with that? You can't always ensure privacy and guarantee that information is destroyed.
  

😉 Betterdata's better

Instead of anonymizing data, they generate synthetic data that looks, feels and acts just like real data — without sacrificing quality, privacy, risk, fairness or speed. It's just as good as the real thing!

• Generative AI. This is generated through computer algorithms, deep learning and privacy engineering instead.
  

And more. It can also generate more data to train, test and validate ML models and generate more data for underrepresented groups or classes, solving data imbalance and reducing bias.

🤑 What's with the money, honey?

It's mostly for their product launch and to enhance their tech, including support for more types of datasets.

• They'll also be hiring and expanding beyond Singapore to the rest of APAC in the next two years.

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