Polygon Co-Founder, Pantera & Hashkey Back Crypto-AI Startup With $85M Funding
Highlights
- Sentient Labs raises $85 million in seed funding, co-led by Pantera Capital and Hashkey, to develop a decentralized AI platform.
- Platform aims to allow developers to monetize contributions to AI tools.
- The startup, founded in Singapore, plans to launch a testnet in Q3 and establish an AI venture studio, Sensys, to support its ecosystem.
Sentient Labs has burst onto the tech scene, backed Polygon co-founder Sandeep Nailwal, Peter Thiel’s Founders Fund and others. This new startup aims to revolutionize AI development by combining blockchain technology with artificial intelligence. Their innovative approach seeks to transform how AI tools are created and monetized, potentially disrupting the current landscape dominated by centralized tech giants.
Sentient Latest Funding Details and Company Vision
Sentient Labs has successfully raised $85 million in seed funding, co-led by crypto venture capital firms Pantera Capital and Framework Ventures, with participation from Peter Thiel’s Founders Fund. This places the company among the top 10 largest seed rounds for AI startups, according to Dealroom data.
Founded in Singapore just months ago, Sentient Labs is developing an open-source platform that aims to allow developers to monetize their contributions to emerging AI tools such as chatbots and enterprise software. Co-founder Sandeep Nailwal, also known for his role at Polygon Labs, positions Sentient Labs as a decentralized alternative to major tech companies in the AI space, addressing concerns about the centralization of AI power.
The funding precedes Sentient’s planned testnet launch in the third quarter of this year. Additionally, a new AI venture studio called Sensys has been established to support the Sentient ecosystem, focusing on nurturing tools and companies within the Sentient platform. This comprehensive approach demonstrates Sentient Labs’ commitment to creating a robust, decentralized AI ecosystem.
Also Read: Robinhood Expands Crypto Trading To Three New U.S. Regions
Recent AI Developments in the Crypto Space
The AI landscape in the crypto industry continues to evolve rapidly. Robinhood, a prominent name in cryptocurrency trading, has acquired Pluto, an AI-driven investing copilot. This acquisition aims to enhance Robinhood’s offerings by integrating advanced AI tools to help retail investors make more informed decisions.
Meanwhile, Elon Musk’s xAI has announced plans to launch Grok 2, an advanced version of their AI chatbot. Following the successful rollout of Grok 1.5, which demonstrated improved capabilities in long context understanding and advanced reasoning, Grok 2 is expected to feature even more advanced AI functionalities.
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