[Funding alert] Trieste-based Aindo Secures €6 million Series A Round Funding

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With this additional funding, Aindo will be ready to hire 10 more team members and keep developing solutions that make it easier to apply artificial intelligence in major industries like healthcare, banking, and government.

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Data that is generated deliberately as opposed to by actual events is referred to as synthetic data. It is generated algorithmically and is a stand-in for real data while evaluating and creating machine learning (ML) models.

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Daniele Panfilo, co-founder and CEO of Aindo.“We’re thrilled to announce this new funding round, which will fuel our growth at a crucial phase of the company’s development, “When we launched Aindo, Generative AI was barely known outside academic environments. In record time, it’s grown into the next billion-dollar category in tech, thanks to its mind-blowing capabilities that have captivated the world’s imagination. Our goal is to make data-driven innovation increasingly secure and ethically responsible for entire industries. Most organizations possess valuable structured information stored within their databases that cannot be used due to privacy protection. Creating synthetic data with generative AI solves that: the data Aindo regenerates behaves similarly to real data while fully protecting individuals’ privacy.”

Giulia Giovannini, partner at United Ventures, commented, ” The AI revolution still faces many obstacles, including data inaccessibility, long processing times, privacy concerns, and ethical issues related to data collection. Synthetic data is an answer to these problems, offering companies a tool of great importance to fully exploit the potential of artificial intelligence while ensuring the necessary privacy in data management. We believe that Daniele and his team have the right ambition to scale the platform internationally in the field of synthetic data, and we are excited to contribute to this round, as our very first investment from UV3, United Ventures recently launched fund.”

Leading the financing phase is United Ventures, a venture capital firm that specializes in financing high-tech businesses. This is proof of the growing importance of synthetic data in promoting secure information transmission.

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About Aindo

Aindo's team, which launched in 2018, is interested in reinventing the idea of data mobility, understood as the safe movement of information with a focus on privacy protection, in addition to securing its position as the world's leader in synthetic data.

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Our goal at Aindo is to promote the global adoption of artificial intelligence (AI). The AI revolution has begun and will soon enhance every area of our lives, from tailored healthcare to robotic decisions and procedures.

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But there are still challenges to broad AI use. These issues include the inability to access data, long data lead times, privacy worries, and biased and inaccurate data collection.

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