The convergence of artificial intelligence and blockchain has emerged as a focal point for venture capitalists and innovators worldwide. In June, numerous companies leveraging these technologies announced significant capital raises, predominantly in seed funding.
Among these innovators is Sentient, which secured $85 million to advance its open-source artificial intelligence platform. Leading this funding round were Peter Thiel’s Founders Fund, Pantera Capital, and Framework Ventures. Positioned as an AI research organization, Sentient aims to empower developers to monetize their open-source models and data, akin to established ecosystems like the Super Intelligence Alliance.
Similarly, ORA integrates AI models with blockchain to enable revenue generation for developers. Recently, the protocol raised $20 million from investors including Polychain, HF0, and Hashkey Capital. ORA is developing a mechanism where token holders can claim ownership and a share of revenue generated by AI models.
Cosmo Jiang, portfolio manager at Pantera Capital, highlighted the transformative potential at the intersection of AI and crypto, foreseeing a future where AI becomes as ubiquitous as the internet in business operations. Pantera Capital also invested in Bittensor, a decentralized platform facilitating the creation, training, and sharing of AI models within a marketplace framework. Details of the investment made earlier in 2024 remain undisclosed, but Jiang emphasized its strategic significance within their portfolio, particularly in blockchain-based AI projects.
In other developments covered in Cointelegraph’s VC Roundup for June, Lombard secured $16 million in seed funding to develop a Bitcoin restaking ecosystem, with Polychain Capital leading the round. Meanwhile, Redacted raised $10 million to bolster its Web3 entertainment ecosystem, co-led by Spartan Group. Additionally, RedStone closed a $15 million Series A round, spearheaded by Arrington Capital, affirming its position as a modular oracle developer serving numerous blockchain platforms.
Covalent, a blockchain infrastructure firm, closed a $5 million funding round aimed at expanding its operations across Asia to support long-term data availability. This round was led by RockTree Capital, with participation from CMCC Global, Moonrock Capital, and Double Peak Group. Covalent’s structured data pool facilitates decentralized AI training, underscoring its critical role in blockchain infrastructure.
Furthermore, Outlier Ventures announced the selection of six startups for its DePIN Base Camp accelerator program. These startups, spanning diverse domains such as IoT hardware networks, decentralized computing, cybersecurity, and cloud gaming, will receive comprehensive support from Outlier Ventures, peaq, and Borderless Capital throughout the 12-week program.
The article concludes by exploring insights into pitching strategies for female crypto founders seeking to engage male VCs effectively, reflecting ongoing efforts to diversify and empower within the blockchain and AI sectors.
(Source: Cointelegraph)