Fairgen, an Israeli startup based in Tel Aviv that uses AI to respond to surveys, has acquired $8 million in seed money. Leading the round were Maverick Ventures Israel, IGNIA, Tal Ventures, and Creator Fund.
The money will be used by the business to grow both its operations and growth initiatives. While significantly lowering the time-to-insights and data collecting expenses, market research organisations can increase coverage into difficult-to-reach sectors.
Read also – Egypt-Based fintech startup, MNZL fintech startup Secures $3.5 Million in Funding
Fairgen is a startup founded by Samuel Cohen that provides precise AI survey replies. FairBoost is a new product from the company that uses only survey data from customers to train an AI model.
Within minutes, the model may produce new, statistically-guaranteed results for niche groups based on its ability to infer relationships between the many polled groups and the larger groups.
Read also – Indonesia-Based startup Gapai secures $1 Million in Funding
Some of the biggest worldwide consumer companies utilise it, and it has partnered with IFOP and BVA, two multinational market research firms, to test and incorporate their technologies into their products.
About Fairgen
Fairgen enables research teams to use generative AI to analyse niche markets at scale. With the help of their state-of-the-art synthetic data technology, survey responses are seamlessly enhanced, enabling analysts to overcome large error margins.
