Verida has secured $5 million to fortify user fata protection amid AI expansion

#Verida has secured $5 million in funding aimed at bolstering protections for user data in response to the rapid expansion of generative AI technologies. The seed funding round attracted investment from O-DE Capital Partners, #ChaiTechVentures , #SimurgLabs , #GateLabs , #HASHCIB , Bison Capital, Amesten Capital, and Evan Cheng of Mysten Labs.
The funding will fuel the development of new data storage solutions tailored for internet users seeking to safeguard their personal information from being utilized in AI training processes. Verida aims to empower users by providing decentralized storage and encryption solutions, ensuring data remains under the control of individual users rather than centralized platforms.