In an age where data breaches have become increasingly common, the urgency for secure data handling cannot be overstated. Singapore-based startup Betterdata is stepping up to the plate, focusing on using programmable synthetic data to fortify data protection measures. Recently, the company announced a successful seed round fundraising of $1.55 million, underscoring the growing interest in innovative solutions for data privacy. With a diverse set of investors backing it, Betterdata is set to advance its mission of safeguarding real data.

The Genesis of Betterdata

Founded in 2021 by Dr. Uzair Javaid and chief technologist Kevin Yee, Betterdata was built out of necessity—especially as data protection regulations tighten globally. Their goal? To create a faster, safer way to share data. What sets Betterdata apart from its competitors is its unique approach to data handling. Rather than merely relying on traditional anonymization methods that often strip data of its utility, Betterdata employs cutting-edge generative AI techniques to produce synthetic data.

Synthetic Data: The Game-Changer

The essence of Betterdata’s solution lies in its use of programmatic synthetic data. Yee elaborates that this involves using advanced generative models such as deep learning, generative adversarial networks (GANs) that have gained fame through deepfake technology, and transformers, like those powering ChatGPT. These models allow for the creation of datasets that retain the statistical characteristics of real data without exposing sensitive details.

Applications of Synthetic Data

• Data Privacy Protection: By generating a “fictional” dataset that simulates real-world data, the confidentiality of individuals is maintained.
• Bias Reduction: Synthetic data can address data imbalance issues by creating additional records for underrepresented groups, thereby improving model fairness.
• Machine Learning Model Improvement: The availability of diverse datasets allows developers to train, test, and validate machine learning models more effectively.

Funding and Future Objectives

With the newly acquired funding, Betterdata aims to bolster its product offerings and enhance its programmable synthetic data technology stack. The startup is looking to support various types of datasets, including single-table, multi-table, and time-series datasets. Each variation has specific applications—single-table datasets tend to focus on standalone data, while multi-table datasets can analyze relationships among different data points, and time-series datasets track changes over intervals.

A Vision for Expansion

Moreover, Betterdata has set its sights beyond Singapore. Within the next one to two years, the company plans to expand its reach across the Asia-Pacific region. This expansion will not only involve scaling their tech but also hiring new talent in sales and marketing to ensure their message about data security resonates in new markets.

The Implications for the AI Industry

In a statement reflecting on Betterdata’s innovative approach, Khairu Rejal from Investible emphasized the pressing need for high-quality data that adheres to privacy standards in the AI arena. With the powerful platform that Betterdata has developed, businesses can access safe data that meets global compliance laws without sacrificing quality.

Conclusion

Betterdata represents a formidable advance in the realm of data security. By pioneering the utilization of synthetic data, the company not only ensures compliance with privacy regulations but also enhances the potential for data-driven innovation. The transformative capabilities of programmatic synthetic data can indeed pave the way for a new era in responsible data sharing.

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