Fairgen Overview
Fairgen develops an AI-based solution for tackling algorithmic bias data collected in a biased society where discrimination exists. The company's solution targets this long-standing problem through an AI-powered technology, synthetic data generation, which can remove demographic biases from datasets. Fairgen's software meets the fast-increasing needs for fairness in many industries, from banking and insurance to recruitment, polling, and more.
Cumulative Funding Raised Over Time ($)
—
$2.5MJun 2022
$10.5MMay 2024
Latest News
growth-positive
Fairgen raises $8 million Seed round for accurate AI-generated survey responses | CTech
Israeli startup Fairgen has raised $8 million in seed funding from Maverick Ventures Israel, Tal Ventures, IGNIA, and Creator Fund. The company uses synthetic data to provide granular insights and has developed FairBoost, a solution that doubles the size of under-sampled segments using predictive synthetic responses. Fairgen has recently signed a partnership with international market research firms IFOP and BVA. The companys technology is used by some of the largest global consumer brands.
InvestmentPartners
growth-positive
פיירג'ן יוצאת מהגראז' ומייצרת בני אדם סינתטיים...
Fairgen, an Israeli startup, has developed a technology to clean artificial intelligence (AI) from biases and opacity. The company initially aimed to help banks, insurance companies, and other large entities that collect and analyze data to do so fairly. However, due to the lack of urgency in these sectors to adopt fair AI practices, Fairgen has pivoted to producing bias-free synthetic data for market research companies. Fairgen recently completed a seed funding round, raising $2.5 million led by Tal Ventures and Creator Fund. The company is currently conducting a pilot project with a large market research company in France.
InvestmentExpand
growth-positive
Fairgen: Tackling the algorithmic bias of AI CTech
Fairgen, a company founded by Samuel Cohen, has raised $2.5 million to tackle algorithmic bias in AI algorithms. The company aims to address biases in AI algorithms used by organizations in hiring processes, loan applications, and insurance. Fairgens technology uses fair datasets validated by an external provider to mitigate biases and enhance the reputation of its clients. The company believes that fairness is crucial in both the physical and digital worlds. Fairgens platform is already in production and provides data monitoring, decorrelation, and rebalancing services. The recent investment will be used to expand the R&D team and extend the platforms capabilities. Fairgens main competitors are synthetic data for privacy compliance companies, model and data monitoring companies, and fairness-as-a-service companies.
InvestmentExpand
| Sector | Business Software |
Funding
| Total funding | $10.5M |
| Last funding | $8M |
| Stage | Seed |
| Rounds | 3 |
| Investors | 8 |
Team Members
4
Employees: 11-50
Web & Social Links
| Website | www.fairgen.ai/ |
Locations
Aluf Kalman Magen St 3, Tel Aviv-Yafo, Israel
Photos & Videos
2 item(s)
Fairgen Business
Business models
B2C, B2B
Product stage
Released
Employees
11-50
Sector
Business SoftwareIT, R&D & Data SolutionsData Analysis & Decision SupportTarget Customer
Enterprise & Professional ServicesEnterprisesSoftware DevelopmentCore Technology
Artificial IntelligenceGenerative AITags (3)
artificial-intelligencesoftware-platformenterprise-solutionsUse Cases
Consumer & ShopperCustomer ExperienceBrand & MarketingPolitical ResearchEmployee ExperienceFairgen Financials
$10.5M
Total funding
Undisclosed
Capital raised
$8M
Last funding
Seed
Funding stage
3
Total rounds
8
Investors
Cumulative Funding Raised Over Time ($)
—
$2.5MJun 2022
$10.5MMay 2024
Private Equity Funding
Seed
May 2024
$8M
Maverick Ventures IsraeI (Lead)
,
IGNIA, Tal Ventures, Creator Fund
Seed
Jun 2022
$2.5M
Tal Ventures (Lead)
,
McKinsey & Company, Creator Fund, Citi Ventures, Alten
Undisclosed Round
Undisclosed
Benny Schnaider
Fairgen Lifecycle
Cumulative Funding Raised Over Time
—
$2.5MJun 2022
$10.5MMay 2024
All Events
Seed
May 2024
$8M
Maverick Ventures IsraeI (Lead)
,
IGNIA, Tal Ventures, Creator Fund
Seed
Jun 2022
$2.5M
Tal Ventures (Lead)
,
McKinsey & Company, Creator Fund, Citi Ventures, Alten
Undisclosed Round
Undisclosed
Benny Schnaider
Fairgen News
3 articles
growth-positive
Fairgen raises $8 million Seed round for accurate AI-generated survey responses | CTech
Israeli startup Fairgen has raised $8 million in seed funding from Maverick Ventures Israel, Tal Ventures, IGNIA, and Creator Fund. The company uses synthetic data to provide granular insights and has developed FairBoost, a solution that doubles the size of under-sampled segments using predictive synthetic responses. Fairgen has recently signed a partnership with international market research firms IFOP and BVA. The companys technology is used by some of the largest global consumer brands.
InvestmentPartners
growth-positive
פיירג'ן יוצאת מהגראז' ומייצרת בני אדם סינתטיים...
Fairgen, an Israeli startup, has developed a technology to clean artificial intelligence (AI) from biases and opacity. The company initially aimed to help banks, insurance companies, and other large entities that collect and analyze data to do so fairly. However, due to the lack of urgency in these sectors to adopt fair AI practices, Fairgen has pivoted to producing bias-free synthetic data for market research companies. Fairgen recently completed a seed funding round, raising $2.5 million led by Tal Ventures and Creator Fund. The company is currently conducting a pilot project with a large market research company in France.
InvestmentExpand
growth-positive
Fairgen: Tackling the algorithmic bias of AI CTech
Fairgen, a company founded by Samuel Cohen, has raised $2.5 million to tackle algorithmic bias in AI algorithms. The company aims to address biases in AI algorithms used by organizations in hiring processes, loan applications, and insurance. Fairgens technology uses fair datasets validated by an external provider to mitigate biases and enhance the reputation of its clients. The company believes that fairness is crucial in both the physical and digital worlds. Fairgens platform is already in production and provides data monitoring, decorrelation, and rebalancing services. The recent investment will be used to expand the R&D team and extend the platforms capabilities. Fairgens main competitors are synthetic data for privacy compliance companies, model and data monitoring companies, and fairness-as-a-service companies.
InvestmentExpand
Fairgen Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 28 |
| Team members | 4 |
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Fairgen Internal
Recent Updates
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Admin Info
| Confidence | 90/100 |
| Missing | markets, not claimed |
| BI Verification | Dana Arnon |
| Registrar ID | 516598174 |
| Creator | Matan Eblagon |
| Creator email | matane@sncentral.org |
| Last updater | Dana Arnon |
| Updater email | dana.arnon@mail.huji.ac.il |
| Last update | 2024-07-24T00:00:00.000Z |
| Created | 2022-07-03T00:00:00.000Z |