AI startup Synthetaic secured $4.5 Million in Funding

Synthetaic, a Delafield based synthetic data company, has now secured $4.5 million in a funding round.

Synthetaic is founded by Corey Jaskolski. It combines high fidelity 3D modeling and novel, generative AI to grow large and high-quality datasets sufficient for machine learning. In doing so, the company is able to extent AI into the different verticals where data constraints have prevented previous applications of the technology.

The technology is already being deployed in conservation security and medical imaging. Through 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.

Ben Fitzgerald, Partner at Lupa Systems, said, "If data is the new oil, it’s imperative that we avoid the pitfalls of that extractive industry. 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 CEO and founder, Corey Jaskolski, said, "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. 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 total funding secured $4.5 million includes the $1 million in pre-seed funding and a $3.5 million in seed funding round backed by Lupa Systems, with participation from TitletownTech and Betaworks Venture.

The company, as of now, has plans to use the new funds to enable the company to grow its team, scale its modeling and generate Artificial Intelligence technologies.