Decentralized AI protocol GaiaNet bags $10m from investors

Decentralized AI developer GaiaNet is challenging the centralized AI status quo by leveraging blockchain technology for a new paradigm.

Decentralized AI provider GaiaNet has raised $10 million in funding to build its blockchain optimized for large language models and generative software. The funds will support the development of a decentralized network of edge nodes managed by private individuals and businesses, democratizing AI tools to offer a more inclusive alternative to existing giants such as Google.

GaiaNet CEO Matt Wright stated that the company hopes to “redefine the way humans and AI interact to enable sovereign infrastructure” to govern AI.

The firm is addressing the shortage of higher education experts through decentralized AI-powered teaching assistants. This effort expands a partnership with the University of California to create chatbots for STEM students.

Participants in the seed funding round included Generative Ventures’ Lex Sokolin, Republic Capital’s Brian Johnson, 7RIDGE’s Shawn Ng, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund and ByteTrade Lab.

Commenting on the investment and initiative, ByteTrade Labs CEO Lucas Lu stated that GaiaNet’s decentralized AI network “offers endless possibilities for both users and developers to collaborate with AI agents.”

GaiaNet started its first phase product testing in the second quarter of 2024 and plans to release the testnet and software development kit in the third quarter of 2024.

Today in San Francisco, California: a #DeAI project raised a $10 million series seed funding round 👏

GaiaNet AI aims to: #central management existing middleware using a distributed network of edge nodes controlled by individuals and businesses.

Three ways this will change forever… pic.twitter.com/om7JXD6CvW

— GaiaNet (@Gaianet_AI) May 28, 2024