According to Techub News, as reported by The Block, cryptocurrency AI startup Fraction AI has completed a $6 million Pre-Seed funding round, led by Spartan Group and Symbolic Capital, with participation from Foresight Ventures, Borderless Capital, Anagram, and Karatage. Angel investors include Sandeep Nailwal from Polygon and Illia Polosukhin from NEAR Protocol.
Fraction AI was established in February this year, aiming to decentralize data labeling. Shashank Yadav, the founder and CEO of Fraction AI, stated that Fraction AI is primarily built on Ethereum and is currently in use on a closed test network with over 60,000 users. The public testnet is expected to launch next month, with the mainnet anticipated to go live by the end of Q1 or early Q2 of 2025. Additionally, the FRAC token will also launch at the time of the mainnet.
