Seed10 March 2024

Synthesized raises £2.1m in seed funding led by IQ Capital and Mundi Ventures to expand its team.

The round was co-led by IQ Capital and Mundi Ventures to support team expansion and product development.

£2.1MSeed

Synthesized provides agentic AI infrastructure to automate test data provisioning and quality assurance for enterprises. The platform enables organisations to generate regulation-safe test environments efficiently.

Synthesized has secured £2.1m in a seed funding round co-led by IQ Capital and Mundi Ventures, with additional participation from Seedcamp, Pretiosum Ventures, and various industry executives. The company will direct the capital towards doubling its London headcount and expanding its sales and product teams. The investment aims to support the firm as it scales its synthetic data platform across sectors including finance, insurance, and healthcare.

From the founder

"Synthesized substantially reduces the time to develop and comprehensively test data-driven projects and as a result empowers engineers to build better products and services for end users. With the new funding from IQ Capital and Mundi Ventures, Synthesized is well-positioned to facilitate its business operations to turbocharge development processes across many sectors, such as finance, insurance and healthcare. We will continue to double down on bringing the highest quality data infrastructure to our clients and partners."

Nicolai Baldin

Founder and CEO at Synthesized

Investor perspective

"Responsible organisations are waking up to the need to ensure that their deployed machine learning systems are fair and unbiased, as well as being robust and accurate. Synthesized’s ability to create multiple, balanced data sets in a flexible way gives organisations and their customers the confidence they need in deployed production systems, while also greatly speeding up the development process. We were extremely impressed with the team and their thought leadership in this field."

Ed Stacey

managing partner, IQ Capital