Fetch.ai is raising $40 million from DWF Labs ๐
The funding is a mix of equity and FET tokens ๐ฐ
The combined valuation of the funding round is around $250 million ๐ต
Fetch.ai is a decentralized machine learning platform that uses blockchain technology ๐ค
The company aims to create an open-access ecosystem for machine learning algorithms ๐
The funding will be used to expand the platform's capabilities and partnerships ๐
Fetch.ai Secures $40M Funding from DWF Labs to Grow Decentralized AI Platform
Fetch.ai, a UK-based blockchain platform that leverages artificial intelligence to automate tasks, has raised $40 million in new funding from DWF Labs. The investment is a mix of equity and Fetch.ai (FET) tokens, with a combined valuation of around $250 million. Fetch.ai plans to use the funding to expand its ecosystem, particularly in Asia, where DWF Labs is active in building developer communities.
Fetch.ai has raised $40 million in new funding from DWF Labs, with a combined valuation of around $250 million.
The investment is a mix of equity and Fetch.ai (FET) tokens.
Fetch.ai plans to use the funding to grow its ecosystem, particularly in Asia, where DWF Labs is active in building developer communities.
Fetch.ai is developing a decentralized machine learning AI model called Colearn, which allows multiple parties to build and train AI models to perform tasks on the Fetch network.
The startup is currently in talks with investors for another funding round.
Decentralized AI:
Fetch.ai's main products under development are Colearn and Autonomous Economic Agents. Colearn is a decentralized machine learning AI model where multiple parties can build and train AI models to perform tasks on the Fetch network. Autonomous Economic Agents can be integrated into apps like OpenAI's ChatGPT to complete tasks or linked with the Fetch wallet to execute transactions. Fetch.ai aims to bring automation to make life simpler by performing tasks from one place.
Conclusion:
Fetch.ai's latest funding round from DWF Labs is a significant boost for the UK-based blockchain platform. With plans to expand its ecosystem in Asia, the startup is well-positioned to bring its decentralized AI solutions to more users. The development of Colearn and Autonomous Economic Agents is promising, and Fetch.ai's focus on automation and simplicity is aligned with the current trend in the AI space. As the startup continues to grow its developer community and explore new funding opportunities, it will be interesting to see how its technology evolves and impacts the AI landscape.
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