Aindo, a Trieste, Italy-based generative AI startup has secured €6 million in Series A funding.

SaaS Investors

The round was led by United Ventures, with participation from existing investor Vertis SGR through the fund Vertis Venture 3 Technology Transfer.

Founded in 2013, United Ventures is a venture capital firm headquartered in Milan, Italy. The firm seeks to invest in software, digital technology, enterprise software, fintech, cloud, the internet of things, cybersecurity, marketplaces, b2b, b2c, and deep tech sectors.

Aindo Use of Funds

The company plans to use the funds to expand its team and further develop its AI solutions, particularly in the healthcare, finance, and public administration sectors.

About Aindo

Founded in 2018 by Daniele Panfilo, Sebastiano Saccani, and Borut Svara, Aindo is an Italian startup that uses generative AI to create synthetic data. It enables data accessibility and valorization through its synthetic data platform. With its patented synthetic data generation technology, Aindo has developed a substitute for testing and training machine learning models. Aindo's technology is already being used in healthcare to enhance predictive analysis of pharmacological therapies in rare diseases and optimize patient care in hospital settings.

Funding Details

Company: Aindo Srl 

Raised: €6.0M

Round: Series A 

Funding Month: October 2023

Lead Investors: United Ventures

Additional Investors: Vertis SGR

Company Website: https://www.aindo.com/ 

Software Category: Synthetic Data Platform

Source: https://tech.eu/2023/10/18/generative-ai-startup-aindo-raises-eur6m/l