Sahara AI's Series A Capital round was co-led by Polychain Capital, Pantera Capital , and Binance Labs, bringing total funding to $49 million.
Sahara AI Capital $43 Million From Pantera, Binance Labs , and Polychain
According to Bloomberg , Sahara AI - a startup project with the goal of combining blockchain with artificial intelligence (AI) - has raised $43 million through a Series A Capital round led by three prestigious Venture Capital Pantera Capital, Binance Labs and Polychain Capital.
The Series A funding round also attracted tech giant Samsung Next, Matrix Partners, dao5 and venture fund Geekcartel, among other investors.
The latest funding brings Sahara AI’s total funding to $49 million . Previously in March 2024, the project’s developer, Sahara Labs, completed a $6 million Seed round led by Polychain Capital, and also received participation from funds such as Sequoia, Nomad Capital, Tangent Ventures, Canonical Crypto, Dispersion Capital, Sandeep Nailwal (co-founder of Polygon ) along with 4 names in the Series A round.
The company plans to use the new funds to expand its global team, enhance its platform performance, and grow its developer ecosystem.
Startup Sahara AI raises $43 million as it seeks to address thorny copyright and privacy issues surrounding artificial intelligence technology https://t.co/tsbNWestSD
— Bloomberg (@business) August 14, 2024
Sahara is a project that allows people to freely and safely deploy autonomous AI, aiming to create a collaborative ecosystem where people can contribute computing power and data to train and run AI models. This makes the AI network more decentralized, not controlled by large corporations or research institutions.
Sahara AI aims to reward users, data sources, and AI trainers — critical to the success of next-generation AI — through its decentralized blockchain platform, rather than the current model that typically benefits the founding company.
Sahara was co-founded and developed in April 2023 by former Binance Labs Chief Investment Officer Tyler Zhou and Sean (Xiang) Ren - a professor at USC and has made significant contributions to AI research and innovation, winning awards including Samsung AI Researcher of the Year, MIT TR Innovators under 35 (Asia Pacific), and Forbes Asia 30 Under 30.
Since its inception, Sahari AI has partnered with over 30 prominent tech companies including Microsoft, Amazon, Massachusetts Institute of Technology, auto parts manufacturer Motherson Group, and Snap.
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