Aura Ventures announces $1.75m investment in HealthTech startup, Sahha, that enables companies to understand users better, so they can build...
Aura Ventures Announces Pre-Seed Investment in Haast
Aura Ventures announces $1.2m pre-seed investment in digital regulatory startup Haast, which uses artificial intelligence to tackle marketing, brand and regulatory compliance and monitor greenwashing.
“The explosion of digital assets and content, driven by generative AI and high-speed growth marketing, means organisations need to ensure their digital assets across multiple channels are compliant. This has left compliance teams scrambling to manage greenwashing and misleading conduct risk, with ASIC and the ACCC hot on their tails”, said Jason Watling, Co-founder of Haast.
The rise in generative AI has significantly increased the volume and velocity of publishing of unique market assets driven by dynamic ads, all of which must be monitored. Generative AI expert Nina Schick predicts that over 90% of online content will be generated by AI by 2025.
In August this year, the ACCC found 57% of brands it reviewed were greenwashing by making misleading statements about their environmental and sustainability claims, they are leaning on businesses to substantiate their written claims and use of visual elements.
“For the first time, organisations can now take a proactive approach to monitoring all their digital assets to address any misleading claims and greenwashing before regulators and consumers can detect them,” said Kunal from Haast.
By leveraging generative AI and multi-modal search, Haast helps teams build an always on monitoring system over their entire digital presence that identifies high risk content in seconds rather than weeks and months.
“Aura Ventures is excited to be supporting Liam, Jason and Kunal in their radical approach to tackling a problem at the front of mind for large and complex enterprises. With an expected inflection in Generative AI and digital marketing assets, and a crackdown on greenwashing from regulators, the time is now to invest in technologies that will disrupt this industry,” said Annie Liao, investor from Aura Ventures.