The intersection of artificial intelligence and blockchain is increasingly catching the attention of venture capitalists and innovators worldwide. Several companies leveraging these technologies reported significant fundraising activities in June, primarily through seed rounds.
One standout example is Sentient, which secured $85 million in funding to advance its open-source artificial intelligence platform. The round was led by Peter Thiel’s Founders Fund, alongside Pantera Capital and Framework Ventures. Sentient aims to empower developers to monetize their open-source models and data, akin to ecosystems like the Super Intelligence Alliance.
Another notable player, ORA, integrates AI models with blockchain to generate revenue for developers. Recently, ORA raised $20 million from investors such as Polychain, HF0, and Hashkey Capital. Their focus lies in developing a mechanism where token holders can share in the revenue generated by AI models they own.
Cosmo Jiang, portfolio manager at Pantera Capital, expressed enthusiasm about the future prospects at the intersection of AI and cryptocurrency, predicting that AI will become as ubiquitous as the internet in business operations.
Pantera Capital is also involved with Bittensor, a decentralized platform facilitating the creation, training, and sharing of AI models. This marketplace model incentivizes users with rewards for contributing to the network. While the exact investment amount remains undisclosed, Jiang emphasized the strategic importance of their involvement in AI projects within the blockchain space.
In another development, Lombard secured $16 million in seed funding to develop a Bitcoin restaking ecosystem in collaboration with Babylon. Polychain Capital led the round, joined by dao5, Nomad, Foresight Ventures, and ABCDE. Lombard’s flagship product, LBTC, serves as a liquid, yield-bearing representation of BTC, enhancing liquidity across decentralized finance protocols.
Meanwhile, Redacted raised $10 million in funding co-led by Spartan Group, positioning itself within the Web3 entertainment sector. Integrating blockchain and AI, Redacted aims to create an “entertainment datasphere” where users can engage in gaming, trading, and content consumption while earning rewards through farming mechanisms.
RedStone, a modular oracle developer, closed a $15 million Series A round led by Arrington Capital, highlighting its extensive network across various blockchain platforms. The startup provides critical data feeds to major chains, solidifying its role in decentralized finance ecosystems.
Covalent secured $5 million to expand its blockchain infrastructure across Asia, enhancing data availability and supporting decentralized AI training. The firm’s structured data pool integrates with numerous blockchains, underscoring its pivotal role in the blockchain ecosystem.
Finally, Outlier Ventures announced the startups selected for its DePIN Base Camp accelerator program, focusing on innovations in IoT, decentralized computing, cybersecurity, and digital twin technologies across global markets.
These developments underscore the growing synergy between AI and blockchain technologies, driving innovation and investment across diverse sectors worldwide.