Botanika intends to channel the funds to grow its ecosystem including go-to-market (GTM).
The company will be combining artificial intelligence (AI) technology with data to remain highly competitive.
The decentralized storage space is a crucial element for the mainstream adoption of digital assets and web3 protocols.
Botanika ($BONSAI), a Dubai-based company that is revolutionizing data storage through the use of artificial intelligence (AI) and blockchain technology, has successfully completed a funding round and secured $1.5 million. The company announced that the funds were contributed by 30 angel investors, who were not revealed.
The company confirmed that the angel investors are committed to ensuring a successful project development. Botanika intends to channel the funds into business development including user acquisition, marketing, and launching its go-to-market (GTM).
According to Siwon Kim, the Chief Executive Officer (CEO) and co-founder of Botanika, the newly acquired funds will play a crucial role in the development of its patented technology with the help of artificial intelligence (AI).
“Botanika aims to innovate an area that has been overlooked for years—our world’s ability to safely store and transmit the cascade of data that is flooding the internet, thanks to emerging technologies such as generative AI. Our patented solution not only stands to outcompete current decentralized storage platforms but also rivals some of the largest names in centralized storage,” Kim noted.
Kim further pointed out that the company is well positioned for exponential growth in the near future based on the robust trust obtained from prominent figures in the AI and data industry in the past.
Some of the notable people working to ensure the success of Botanika include Jasmine Zhang, general partner at A&T Capital, Aamer Chaudhry, a principal at Accenture, Dr. Qurashi, the director of the data center at Kyndryl, and Dr. Al Sanad, a professor at King Saud University.
Why Botanika Stands Out in the Decentralized Data Storage Market
The web3 space has grown to a billion-dollar industry in the past few years fueled by the astronomical adoption of Ethereum (ETH) among other smart contract-based blockchains. Experts believe the web3 space will continue to grow exponentially in the coming years catalyzed by institutional funds.
The development of decentralized financial (DeFi) protocols requires fast and secure access to data to ensure seamless adoption in a regulated manner. For instance, a web3 wallet with millions of users requires trusted data storage that is fast and efficient for customers to see transaction history.
Botanika leverages the concept of a decentralized ledger, the growing field of decentralized Physical Infrastructure Networks (DePIN), and artificial intelligence to ensure reliable data storage for its clients.
In order to ensure reliable, scalable, and cost-effective data storage, Botanika has launched its native hardware dubbed the B1 Node. With the B1 Node, users can deploy their data storage node within the Botanika network and stand a chance to benefit.
Furthermore, the Botanika network uses its native token dubbed $BONSAI to reward its node operators. In return, the Botanika network gets to offer a reliable decentralized data storage ecosystem with a robust financial incentive.
