Contrary to the uncorroborated coverage by Israeli media outlets earlier this week of Israeli synthetic data startup, DataGen, the startup is not on the brink of closure. It is however undergoing a strategic pivot in their core strategy in light of the technological shifts underway by the Generative AI media creation landscape.
In a conversation with StartupHub.ai, CTO Gil Elbaz explained that the startup is in fact very well capitalized and simply restructuring their trajectory to produce a competitive offering against the backdrop of the text-to-image and even text-to-video media asset creation sphere (like that of Midjourney and Dall-E). The startup continues to operate with a dedicated team of over 20 employees.
Elbaz penned his thoughts minutes ago in a Linkedin post:
Elbaz is stepping down from his role as CTO.
In March 2022, DataGen raised a $50 million Series B funding round led by Scale Venture Partners. Their investors include TLV Partners, Viola Ventures, Spider Capital and Operator Partners. The startup was founded in 2018 by Ofir Chakon and Elbaz.