Synthetic Data Startup Mostly AI Raises $5 Million In Funding

Data Privacy Startup Mostly AI Raises $5 Million In Series A Funding

by NeoTech Post

Mostly AI, a data privacy startup that built a synthetic data platform which unlocks personal data for privacy-friendly AI and big data innovation, raised an additional $5 million in Series A funding led by Earlybird. 

Existing investors 42CAP and Push Ventures also participated in the additional funding round. 

“Mostly AI unlocks big data assets while at the same time guaranteeing the highest levels of data protection. That helps customers securely train predictive models thereby unleashing the full potential of their data,” said Christian Nagel, Partner at Earlybird.

“The additional funding will allow us to significantly accelerate our growth and expand our engineering and sales teams both in Europe and in the U.S.,” says CEO Michael Platzer. “We’re experiencing significant traction for our AI-powered synthetic data solution at numerous financial institutions, healthcare and technology companies worldwide and are on track to deliver a cloud-based version of it.”

The company’s customers include Telefónica and Erste Group Bank.