Hazy, a London-based AI start-up which enables GDPR-compliant data sharing, has announced an additional $1.8 million seed funding led by UCL Technology Fund, alongside Nationwide Building Society, Pentland, Amadeus Capital Partners, AI Seed and other investors.
Hazy announces additional $1.8m seed funding
Hazy is a University College London AI spin-out, developed by academics and backed by Microsoft's venture fund. In May this year, Hazy won $1 milion as the European winner of the Microsoft Innovate.AI global startup competition.
Harry Keen, CEO of Hazy, writes:
2018 has been an incredible year for the team at Hazy. We’re working with more and more customers, honed our product offering and won the $1,000,000 Microsoft Innovate.AI prize. Today we passed another major milestone as we announced an additional $1.8 million of Seed funding.
The funding round is led by the UCL Technology Fund, alongside Nationwide Building Society, Pentland, Amadeus Capital Partners, AI Seed and other investors, and takes our total Seed funding raised in this round to $2.8 million following our Innovate.AI win earlier this year.
Since founding the company in February 2017, we’ve seen radical changes in data privacy. From the widely-reported Cambridge Analytica scandal, to the introduction of GDPR, companies are now looking to implement ethical data practices not just because they have to, but because it’s the right thing to do. Betting on ethics isn’t just good values, it’s good business.
We believe that data is now the new fur - and people are beginning to treat it that way.
For a company that advocates for the responsible and ethical use of data, these are exciting and encouraging times. With this new capital we will be building out our range of products - making sure that we are identifying the right problems and building the right solutions.
Amadeus Capital Partners is a private equity fund management company. The company's funds Amadeus I (£50m) and Amadeus II (£235m) focus on investing in early stage technology companies with global potential.