We’re proud to announce that we have closed an $825k pre-seed round. The round was led by DG Lab Fund II (Tokyo, SF) and HU Investments (NY, London, India), and included PurposeBuilt Ventures (SF). You can read the announcement here.
DG Lab Fund II is a joint venture between Digital Garage and Daiwa Securities Group that is investing in next generation technologies, especially around AI, blockchain and security. Their interests include models like ours where individuals play a central role with their data - and that have immediate business applications in big industries, like market research ($76 billion annually).
HU Investments is managed by Hank Uberoi, who was CEO of payments company Earthport until earlier this year when it was acquired by Visa. He is a long time investor who previously was a partner and co-head of technology at Goldman Sachs. His interests include AI, privacy and user control of data, and he will be joining our board of directors.
They were joined by PurposeBuilt Ventures, managed by Miles Lasater. Bonded by MATH hats and both our CEO’s and his support for Andrew Yang, PurposeBuilt Ventures instantly got the meaning and power behind our name (Universal Basic Data Income). PurposeBuilt Ventures mission to increase human wellbeing, expand economic opportunity and improve the public sphere aligned with our vision and goals for UBDI.
Todd Cullen will also be joining our board of directors. Todd has been a leader in the data-driven marketing and analytics world for years, and was the first Chief Data Officer at Ogilvy (WPP) and led the global data products division at Acxiom. He is currently managing partner at Blue Table Advisors and Senior Advisor at private equity firm Oak Hill Partners. We are excited to have someone with his experience who gets our vision help introduce the market research industry to our model.
We also want to give a shout out to investor and advisory board member Itai Grinberg, a professor of tax law at Georgetown University Law Center. He was one of the first people to understand how big of an idea basic data income is, and we are grateful to have him involved.
Stay tuned for more exciting announcements coming in the days (literally) ahead. And please consider joining our community of individuals and companies dedicated to proving that data empowerment and privacy are the way of the future.