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Italian AI Pioneer Secures €6M in Series A Funding to Fuel Growth and Innovation

Aindo, in charge of synthetic data generation technology, hit a remarkable €6 million in a Series A funding round
By Josefina Dipaolo
October 20, 2023

Artificial Intelligence (AI) has been reshaping industries worldwide, and Italian startup Aindo is at the forefront of this transformation. With their groundbreaking synthetic data generation technology, Aindo is making waves, and they've just raised a significant €6 million in a Series A funding round. This investment, led by Italian venture capital firm United Ventures, with participation from existing investor Vertis SGR, marks a milestone in Aindo's journey.

Aindo's mission is to enable the world to harness the full potential of AI, fostering advancements in critical sectors such as healthcare, finance, and public administration. Their commitment extends beyond leading in synthetic data; they aim to redefine data mobility while prioritizing data privacy.

In a rapidly evolving digital landscape, synthetic data - data created artificially rather than originating from real-world events - is gaining ground. Leading research firms, such as Gartner, predict that synthetic data will account for 60% of data used in AI projects by 2024, a substantial increase from the 1% reported in 2021. A study by Grand View Research foresees the global synthetic data market reaching an impressive valuation of €1.79 billion by 2030.

Aindo's synthetic data generation technology is making significant strides in healthcare. From enhancing predictive analysis of pharmacological therapies for rare diseases to optimizing patient care in hospitals and facilitating remote healthcare monitoring, Aindo's Synthetic DataOps Platform empowers these innovations. It encompasses all necessary functionalities to transform raw data into valuable insights, doing so swiftly, securely, and intuitively.

Daniele Panfilo, co-founder and CEO of Aindo, expressed his enthusiasm about the funding round, stating, "Our goal is to make data-driven innovation increasingly secure and ethically responsible for entire industries." With the explosive growth of Generative AI, Aindo is riding the wave of a technology that has captured global imagination.

Giulia Giovannini, partner at United Ventures, highlighted the importance of synthetic data as a solution to various challenges the AI industry faces. She underlined that Aindo's ambition to take its platform worldwide aligns with their vision and marks the inaugural investment from UV3, United Ventures' recently launched fund.

Roberto Della Marina, operating partner of Vertis SGR and managing partner of Venture Factory, emphasized the immense potential of Aindo's technology in the coming years. As the demand for synthetic data continues to rise across sectors heavily reliant on data, Aindo is poised to make a positive impact on millions of lives.

Aindo's journey showcases how innovation and entrepreneurship can drive transformative change in industries at the intersection of technology and society. As the world's reliance on AI and data-driven solutions grows, Aindo's vision and technology promise to play a pivotal role in shaping the future. With this latest funding boost, the company is set to expand its team by 10 members and continue developing groundbreaking solutions in AI, particularly in healthcare, finance, and public administration.

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