GaiaNet Raises $10M for Decentralized AI Protocol

GaiaNet AI Raises 10 million
GaiaNet, a developer of decentralized AI, has raised $10 million to challenge the centralized artificial intelligence landscape by utilizing blockchain technology. This funding will support the creation of a blockchain optimized for large language models and generative software.

The company aims to build a decentralized network of edge nodes managed by private individuals and businesses. This approach democratizes access to AI tools, offering a more inclusive alternative to established giants like Google.

GaiaNet CEO Matt Wright stated, “We hope to redefine the way humans and AI engage to enable sovereign infrastructure for handling artificial intelligence.”

One of GaiaNet’s key initiatives is addressing the shortage of higher education experts by developing decentralized AI-powered teaching assistants. This effort is part of an expanded partnership with the University of California to create chatbots for STEM students.

The seed funding round saw participation from several investors, including Lex Sokolin of Generative Ventures, Brian Johnson of Republic Capital, Shawn Ng of 7RIDGE, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab.

Lucas Lu, CEO of ByteTrade Labs, commented on the investment, stating that GaiaNet’s decentralized AI network “opens up endless possibilities for both users and developers to collaborate with AI agents.”

GaiaNet began its first-phase product testing in Q2 2024 and plans to release its testnet and software development kit in Q3 2024.

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