$8m for Synthetic Data Firm Fairgen

Synthetic survey response specialist Fairgen has secured $8m in seed funding, as it readies to launch its flagship solution FairBoost, which it says doubles the size of under-sampled segments using predictive synthetic responses.

The firm, a startup founded by students from Imperial College London, partnered recently with BVA BDRC as the insights group launched its own synthetic data tool, Pixel.AI. FairBoost trains an AI model exclusively on the customer's survey data - the model learns the relationship between the different surveyed groups and can extrapolate from the larger groups, generating 'new responses for niche groups in minutes that are mathematically guaranteed to be statistically accurate', according to the company.

CEO Samuel Cohen (pictured), who founded Fairgen alongside serial entrepreneurs Benny Schnaider & Michael Cohen, comments: 'We've worked with some of the top AI researchers to test and validate our method, and we are now ready to open it up to the whole industry'.

Funding was led by Maverick Ventures Israel, with participation from Tal Ventures, IGNIA and Creator Fund.

Web site: www.fairgen.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.