Syndata raises SEK 2.2 million investment from a group of angel investors from Sweden.

Syndata, a Stockholm, Sweden-based software startup developing synthetic data solutions, announced completing a seed funding round closed at SEK 2.2 million ($200k).

The money was raised locally from from angel investors from Sweden, with the support of Connect Region Öst, and will be used for further product development.

Syndata, founded in 2020 bY CEO Mattias Ripoll, Guillermo Padres and Hannes Sjöblad, developed Syndapp, a synthetic data generation platform which helps companies and organisations unlock the value of data assets. Synthetic data can be used instead of real data for analysis, testing, sharing, and training of machine learning systems. By replacing real data with synthetic data, compliance is simplified, and data risks are reduced. Synthetic data can also be used to improve data sets through augmentation.