Rainfall raises $1m pre-seed round to address data privacy and monetisation crisis
Privacy-by-design decentralised data monetisation platform Rainfall has announced a $1m pre-seed investment round led by Charly Kleissner, co-founder Toniic, Katapult Foundation, D3Jubilee, Brigitte Mohn of the Bertelsmann Foundation, and other renown impact investors.
The funding will accelerate efforts to expand the partnership programs, scale the technology platform, and further build out the team.
Connected devices are growing exponentially, data generated is exploding, and the proceeds from this data are in the trillions benefitting a few companies, not the data owners, the people. It’s more urgent than ever to address this global crisis of data privacy and monetisation.
Rainfall is re-imaging data monetisation by unlocking the financial value in the digital life of every connected individual while preserving data privacy. The company believes that every person has inherent value, measured by the digital data they create and own. Guided by the principles of data self-sovereignty, Rainfall’s unique edge-AI generates Real-Time Social IntelligenceTM from millions of data events as they happen. The insights enable companies, organizations, and governments to better serve all customers, from everyday people to the most vulnerable ones.
“We support Rainfall’s vision. Data privacy is a human right and, with Rainfall, every connected individual can earn value from the data they choose to share without sacrificing their privacy. It’s totally aligned with our impact strategy and focus,” said Charly Kleissner, co-founder of Toniic.
“Data has immense value and it can, and should, be distributed equitably and responsibly to every individual who creates it, on their terms. It’s a simple concept on paper, but it takes a village to execute with key partners, investors and collaborators who share our vision,” commented Amit Pradhan, Rainfall’s co-founder and CEO.
Today, Rainfall is also announcing key strategic partnerships. On the technology side, Rainfall is partnering with CasperLabs to build the platform on their highly-secure, customizable, enterprise-grade blockchain. On the business side, the startup is working with several visionary charter partners, including Joy of Mom – a global community of three million mothers committed to the social, financial and emotional upliftment and impact for mothers everywhere.
“Casper provides a powerful and customisable blockchain for forward-thinking companies like Rainfall,” said Mrinal Manohar, co-founder & CEO, CasperLabs.
“Rainfall is pioneering new applications in data self-sovereignty, and CasperLabs is all in to help them with their journey, by providing the reliable and secure framework on which they are building.”
“Our mission to empower moms around the world is further enhanced by Rainfall,” said Vicki Reece, founder, and CEO of Joy of Mom, “we moms generate more data than ever – it’s time we get compensated for it, and on our terms.”