A startup that uses generative AI to create synthetic data has just nabbed $6 million in Series A funding from United Ventures. Italian startup Aindo, which launched in 2018, has developed and patented a technology which can generate artificial data, which mimics the characteristics and patterns of the original dataset. This can then be used to train AI models across a range of industries. IBy 2024, 60% of the data used for AI will be synthetic, according to estimates from Gartner. Europe's data protection laws also mean that acquiring certain data points – such as medical records or patient details — is difficult.

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Persons: Daniele Panfilo, Panfilo, Aindo's, Aindo Organizations: United Ventures, Gartner