Dataswift raises £1.6m Seed funding

Cambridge, 19 September 2019

We are excited to announce that we have raised £1.6 million in seed funding. The round was led by IQ Capital, with participation from Pacific & Orient Properties Ltd and Alphanumeric Corporation. With the raise comes a change in name. Formerly known as HAT Data Exchange Ltd we are now called Dataswift.

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Our platform helps every Internet user interact with companies through their apps and websites using what’s called a “personal data account.” These accounts, called PDAs, store all the sensitive personal information that would otherwise have to sit on the company’s servers on their personal, user-owned data infrastructure. With them, individuals get to decide what personal data they want to hold, they get to deal directly with apps and websites, and they get to remove their dependency on third parties brokering their personal information, so that they can exchange it with companies fairly and safely for themselves.

Our Seed round will let us grow personal data infrastructure globally as we empower apps and websites to upgrade their company-held user accounts to HAT PDAs. We’ll continue to invest in our technology, working with the ecosystem of universities and partners that we’ve been working with for the last six years, and we will grow our capabilities into new areas as well, like private AI and better tooling for developers. 

Professor Irene Ng, CEO of Dataswift and Professor of Marketing and Service Systems at the University of Warwick has said that “Personal data account technology should be an essential part of a developer’s tool kit, as they build ethical, useful, and data-rich websites and applications. This investment comes at a critical time, as tech companies battle privacy concerns with their collection and usage of personal data.”

Our investors, led by Daniel Carew, Principal at IQ Capital said that they’re “excited to be a part of Dataswift’s mission to revolutionise the management of personal data and we believe they are laying the groundwork for a whole new generation of personal computing applications. Dataswift’s approach elegantly addresses one of the fundamental issues with the architecture of the Internet today, and we are glad to support their global rollout.”

Following the announcement of our raise, our community of partners have sent in their best wishes. Read them all here