Blockchain data oracle for AI models, OpenLedger, has raised $8 million in a Seed round led by Polychain Capital and Borderless Capital. The round also saw participation from several other investors including Finality Capital, Hash3, HashKey Capital, STIX, TRGC, Mask Network, MH Ventures, and WAGMI Ventures.

OpenLedger aims to address the issue of data in AI model training, which it identifies as the biggest challenge that many AI models face today. The company believes that the future of AI will be driven by three elements: computing, algorithms, and data. While developers have managed to tackle computing issues with powerful computers and complex algorithms, data remains a significant hurdle.

OpenLedger's fully permissionless and verifiable data-centric infrastructure could potentially spur the growth and development of AI by enabling builders to create smarter and more performant AI models. The company is leveraging EigenLayer’s crypto restaking protocol to secure its network and has highlighted the protocol's rapid growth to a TVL of $20 billion. OpenLedger plans to launch its testnet in the fourth quarter of 2024 and is currently expanding its team and operations to achieve this goal.