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Pond, a crypto-AI startup, has successfully raised $7.5 million in seed funding to develop a decentralized AI model layer tailored for the cryptocurrency sector. The funding round was led by Archetype, with participation from notable investors such as Coinbase Ventures and Near Foundation. This investment will support Pond's mission to create a comprehensive model ecosystem that leverages on-chain data for various applications.
Founded in 2023, Pond initially focused on building a user search engine utilizing on-chain data to explore blockchain connections. The startup has since expanded its vision to include AI models that can process complex on-chain data, enhancing user experience in areas like security, recommendations, and decentralized finance (DeFi). With plans to grow its team and broaden its AI applications, Pond is poised to make significant contributions to the crypto landscape.
• Pond raised $7.5 million to develop decentralized AI for crypto.
• Pond's AI models aim to simplify complex on-chain data for users.
Decentralized AI refers to AI systems that operate on distributed networks, enhancing data security and accessibility.
On-chain data consists of information recorded directly on a blockchain, which can be analyzed for various applications.
A graph algorithm is used to analyze relationships within data, crucial for understanding blockchain connections.
Pond develops decentralized AI models that utilize on-chain data for enhanced user applications in crypto.
Coinbase Ventures invests in innovative crypto projects, supporting Pond's development of AI solutions.
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