Quick take:
The fundraising attracted participation from EVM Capital, Mirana Ventures and Mantle EcoFund with Lex Sokolin and Brian Johnson joining as angel investors.
The company will use the capital to develop educational tools for STEM students and ramp up the development of its decentralised infrastructure for AI networks.
GaiaNet is developing an AI-powered chatbot “teaching assistants” for university students taking computer science and other STEM courses.
GaiNet, a decentralised AI infrastructure platorm has announced a $10 million seed round backed by EVM Capital, Mirana Ventures and Mantle EcoFund. Generative Ventures’ Lex Sokolin and Republic Capital’s Brian Johnson joined as angel investors.
According to the announcement, GaiNet plans to use the fresh capital to accelerate the development of its decentralised infrastructure for AI networks and develop educational tools for STEM students.
The company is currently developing an AI-powered chatbot dubbed “teaching assistants” designed to help university students taking computer science and other STEM courses.
This is not the first time the company has collaborated with an educational institution. The process began earlier this year when GaiaNet teamed up with the University of California Berkeley to develop AI-powered teaching assistants for STEM students.
Commenting on the announcement, GaiaNet CEO Matt Wright said in the statement: “With the recent investment, we’re able to take a step further in our commitment to redefining the boundaries of AI, making them more accessible, data bias-resistant, collaborative, and privacy-centric.”
The company is also developing a distributed network of edge nodes controlled by businesses and individuals. According to the announcement, GaiaNet believes it will be able to provide AI users with more private and secure tools that rival what big-tech IA developers are offering.
GaiaNet’s fundraising comes at a time when companies are leveraging blockchain technology to tackle security and privacy concerns created by emerging verticals in AI like generative AI, text-to-speech, voice-generator and image-to-text, among others.
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The post GaiaNet Ramps Up the Development of Its Decentralised AI Infrastructure with $10M Funding appeared first on NFTgators .