Amsterdam-based startup, Syntho, a data technology organization with strong expertise in AI-generated synthetic data, raised 1 million euros on 31 May 2021. The round was led by TIIN Capital’s Dutch Security TechFund.
About Syntho
Founded in 2020 by Marijn Vonk, Simon Brouwer and Wim Kees Janssen, Syntho has developed advanced synthetic data software that enables organizations to speed up innovation and comply with data privacy principles and regulations. It aims to solve the global data privacy dilemma.
The startup is innovating in the emerging market of Privacy Enhancing Technologies (PETs). Its scalable software solution enables large and mid-sized companies, startups and public entities to optimize their use of data in a fully GDPR-compliant manner. Syntho also won the ‘2020 Philips Innovation Award’.
Syntho helps companies and governments utilize vast amounts of sensitive information to secure and protect the information so that the personal data does not get compromised.
Features of the Synthetic Data Software
· Superior Data Quality: Preserves statistical properties, providing the best possible alternative to using sensitive data.
· Complex Data Support: Supports complex data structures like one-to-many relationships, time-series data, sequential data.
· Fast and Easy: The synthetic data engine can be deployed immediately.
· On-premise and cloud flexibility: Synthetic data engine can be deployed in your preferred private cloud environment.
What the co-founders have to say: “Why collect all that data and use real data when the same can be achieved with synthetic data? Customers use our AI-driven software to generate best-in-class synthetic data for a variety of use-cases. The Syntho software gives organizations a secure and widely applicable platform to realize innovations with more data, faster data access and zero data privacy risks.” — Marijn Vonk, co-founder of Syntho.
“The investment enables us to continue to hire the best developers in our field, invest in our cutting-edge technology and expand our commercial team. We have chosen TIIN Capital because they are specialized in (cyber)security and, besides the funding, provide us with a strong partner to realize Syntho’s rapid growth and international ambitions in the data privacy and data-security domain.” — Kees Janssen, Co-founder and CEO of Syntho.
What the investors have to say: “Our society and business operations continue to be increasingly data-driven, while on the other hand, consumers, citizens and lawmakers are imposing increasingly strict requirements on how companies and governments operate and guarantee data privacy. With their synthetic data technology, the Syntho team offers a much-needed solution precisely in this space.” — Michael Lucassen, managing partner at TIIN Capital.
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