Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Data Security Startup Hazy Wins £750k Microsoft Award

Data security software developer Hazy has bagged £750,000 ($1 million) from Microsoft’s investment unit.

The company, previously known as Anon AI, will receive the fresh injection of cash after winning the Innovate AI award, a competition for disruptive and high potential AI and machine learning startups— in North America, Israel, and Europe— sponsored by M12 (erstwhile Microsoft Ventures.)  The company will also receive over £360,000 ($500,000) in Microsoft Azure credit.

Hazy is creating software able to automatically anonymise data, which in turns enables developers and analysts to share it in  a secure way; data security  is slated to become even more relevant in the wake of the Facebook scandal, and following the coming into force of EU-wide GDPR regulation.

The company had previously raised a £340,000 pre-Seed funding round in January 2018, led  by the UCL Technology Fund,  the London Co-Invested Fund, AI Seed and Ascension Ventures. The new cash will now allow Hazy to build a developer tool and perfect its prototype model.

Hazy CEO Harry Keen, commented on the deal in a statement “This award is both an excellent achievement and an immense boost, which provides a platform to drive our growth strategy. A $1 million investment is transformational for our company and will enable us to further improve our developer tools and engage with a greater range of clients and prospects,” he said.

“Competition was extremely tough and we are grateful that Microsoft has recognised the potential of our software.”

M12 global head Nagraj Kashyap also commented on the round. “Security is a top-line priority for Microsoft. Hazy’s ability to anonymise data in order to ensure platform users and the data they share is more secure is paramount to safeguarding user privacy,” he explained in a statement. “We look forward to watching this talented team grow.”

Image via bit.ly/2jsPbqx

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