Hazy raises $9m to power synthetic data usage in enterprises - Hazy
Summary
London, UK 28th March: Leading synthetic data disruptor, Hazy, announced today that it has raised $9 million in Series A funding. This funding will solidify our position as the leading synthetic data provider for enterprises to unlock value through their data and enable us to explore the greater potential of generative AI to produce real results for businesses, with no privacy limitations.The rise of generative AI has the potential to revolutionise industries, transform the way businesses operate and realise huge commercial gain. At Hazy were developing our product based on this technology and were working on an exciting new product initiative that is going to enhance our current offering by harnessing some of the latest developments with Large Language Models.Gartner that by 2024, 60% of the data used for AI and analytics will be synthetic, and were very excited to be right at the forefront of the synthetic data revolution.Will Orde, Partner, Conviction comments: With generative AI pushing technology into a realm thought to be unique to the human mind, theres never been a more exciting time for a company like Hazy to remain at the forefront of such innovation. Harry and the team have demonstrated immense motivation and potential since the start, with some great achievements to date and an impressive product that enables enterprise firms to unlock the incredible amount of value from their data. This raise enables them to scale the great traction they have developed and we are delighted to continue to support them on their journey.