Synthetaic Announces $4.5M in Funding to Extend AI into Critical Industries
By generating high-quality training data, the synthetic data company will enable AI models for high-stakes security, medical use cases
DELAFIELD, Wis.–(BUSINESS WIRE)–Synthetaic, the leading synthetic data company, today announced that it has raised $4.5M funding to date. This includes $1M in pre-seed funding and a $3.5M seed round led by Lupa Systems, with participation from Betaworks Ventures as well as TitletownTech, a Wisconsin-based fund formed out of a partnership between Microsoft and the Green Bay Packers.
Through the combined use of high-fidelity 3D modeling and novel, generative AI, Synthetaic is able to grow large and high-quality datasets sufficient for machine learning. In doing so, the company is able to extend AI into industries where data constraints have prevented previous applications of the technology. By focusing specifically on synthetic image data — which is more challenging to produce than columnar data — Synthetaic is able to address particularly high stakes use cases.
No matter the size of an initial sample, Synthetaic closes the statistical gaps in AI training data. The company can produce high-quality training data even if there is no starter sample at all. Synthetaic provides organizations with an end-to-end pipeline for data challenges by not only generating high-fidelity data, but also supervising the subsequent training and deployment of ultra-high accuracy AI models, which outperform models generated using a traditional approach.
“If data is the new oil it’s imperative that we avoid the pitfalls of that extractive industry,” said Ben Fitzgerald, Partner at Lupa Systems. “Synthetaic’s technology has the potential to save time, money, and increase the robustness of AI models without relying on massive quantities of sensitive data.”
Synthetaic’s technology is already being deployed in medical imaging and conservation security.
Through a collaboration with the University of Michigan, Synthetaic is developing a real-time tumor classification AI system that would assist surgeons in identifying what type of brain cancer is present while performing surgery.
Previously, limited data on both animals and poachers had constrained the use of similar AI-based technologies for conservation work. Synthetaic is currently working with Save the Elephants to support aerial elephant surveying with real-time conservation intelligence. Leveraging the Save the Elephants’ existing aerial data set, Synthetaic generated a large, high quality data set. The AI models subsequently trained on this data provide accurate, real-time conservation intelligence that Save the Elephants staff can leverage to assess and track the safety and well being of animal populations.
Beyond conservation intelligence, Synthetaic is leveraging its technology to fill gaps in training data and generate AI models that solve for critical use cases in security more broadly. Because the company can model and detect not just common occurrences, but also the rare, high-impact, high-risk edge cases, they can accurately detect threats and red flags that would have eluded models trained on traditional data sets.
“Our work with early partners has proven that we can generate data that would have taken years to collect in a matter of hours, and that we can train incredibly accurate models,” said Synthetaic CEO and founder, Corey Jaskolski. “We’re honored to have the support of this committed group of investors, and for the opportunity to further extend AI into critical areas where data limitations have prevented the development of performant models.”
The seed financing announced today will help Synthetaic grow their team and scale their modeling and generative AI technologies. The company will also leverage these funds to support technology strategic partnerships currently underway and in their pipeline.
Synthetaic is the leading synthetic data company. We grow high-quality data that unlocks impossible AI.
In some of the most high stakes use cases for artificial intelligence, sample islands have prevented high-quality predictive modeling. There simply hasn’t been sufficient data to train networks effectively, for both still and moving images in particular.
With Synthetaic, you no longer have to wait around to accumulate enough data to start the AI project of your dreams. Neither is it necessary to spend a fortune acquiring a novel data trove. We close the gap between the data rich and everyone else.
Interested in transcending your data limitations? To learn more and get started, please visit www.synthetaic.com
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