Betterdata, a Singapore-based startup, has announced a seed round of $1.55 million from prominent venture capitalists and investors. The company uses programmable synthetic data to keep real data secure for their clients. Betterdata is unique in that it utilizes generative AI and privacy engineering instead of the traditional data anonymization to destroy data.
Dr. Uzair Javaid is the founder and CEO of Betterdata, while chief technologist Kevin Yee has joined the team to help create faster and more secure data sharing solutions as data protection regulations become increasingly more important worldwide. Research and development partnerships are underway with two major universities in Singapore and the United States, and Shanghai Pudong Development Bank is among the company’s clients.
Programmatic synthetic data works by using generative models, such as deep learning models, to create new datasets similar to real-world datasets but without the possible leakage of sensitive information. This approach can help developers protect confidential data while complying with data protection regulations such as GDPR and HIPAA and increase data availability between teams. Moreover, this system can create more data to train, test and validate machine learning models as well as address data imbalance issues.
The seed funding will be used on Betterdata’s product launch, enhancing their programmable synthetic data tech stack, hiring new staff for sales and marketing, and expanding beyond Singapore. Investible, the lead investor, commended Betterdata for their initiative, recognizing them as a solution to the lack of high-quality data that meets privacy requirements.
Dr. Uzair Javaid founded Betterdata in 2021 with the vision of making data sharing more reliable and secure. With a master’s degree in Computer Science from Vanderbilt University, he is an expert in artificial intelligence, machine learning, and natural language understanding. Alongside his partner, Kevin Yee, Dr. Uzair Javaid is on the cutting edge of technology and creating solutions for a more secure and efficient data sharing landscape.
