Inventory of 64 “Web3+AI” Projects that Completed Financing in the First Half of 2024
In the first half of 2024, driven by the AI boom, the US stock market surged, with the S&P 500 hitting a record high 31 times. “AI first stock” NVIDIA has also frequently made headlines, with its stock price soaring by 149% and entering the $3 trillion club.
At this opportune moment, almost all technology startups are talking about AI, even if they are not solely focused on the AI field, they emphasize the AI technologies they use. Well-known investment institutions such as a16z have also stopped establishing AI-focused funds because artificial intelligence now plays an important role in almost all startups. As another “hotspot” that the technology industry cannot avoid in recent years, the intersection of Web3 and AI is undoubtedly a direction worth exploring. The concept of “AI enhances productivity, Web3 changes production relations” is full of imagination.
According to the column “Financing Weekly” of PANews, PANews has compiled statistics on the “Web3+AI projects” that obtained financing in the first half of this year. These projects apply AI technologies to varying degrees and involve infrastructure related to computing power and algorithms, data and privacy, DeFi, entertainment products such as games, as well as applications that provide content creation tools, AI agents/bots, and other services. The following will list the 64 “Web3+AI projects” that completed financing in the first half of 2024 according to this classification.
Infrastructure: 20 projects, with the highest single financing amount reaching $85 million
Sentient
An AI research organization dedicated to building open-source AI models through community contributions, allowing users to access and contribute to the models and receive rewards based on their contributions. One of the core contributors of Sentient is Sandeep Nailwal, co-founder of Polygon. It will be built on Polygon and may also develop its own chain through the Polygon Chain Development Kit (CDK), with plans to launch a testnet in the third quarter of this year. Sentient raised $85 million in seed financing led by Founders Fund, Pantera Capital, and Framework Ventures.
io.net
A Solana ecosystem DePIN protocol that aims to aggregate GPU resources for AI and machine learning (ML) companies, aiming to build a decentralized GPU network and solve the problem of AI computing shortage. io.net completed a $30 million Series A financing, led by Hack VC, with participation from Multicoin Capital, Web3.com Ventures, and others.
Allora Labs
A decentralized AI network built on the Cosmos stack. Allora, formerly known as Upshot, shifted its focus from an NFT valuation platform to a decentralized AI network in February this year. Allora raised a total of $35 million in financing.
Ritual
A decentralized AI network project. Ritual received additional investment of millions of dollars from venture capital firm Polychain Capital, with the specific amount undisclosed. It had previously completed a $25 million financing round in November 2023, led by Archetype, with participation from Accomplice and Robot Ventures.
Ora
An AI-driven blockchain project that aims to integrate AI into decentralized applications through its “on-chain AI oracle.” Ora raised $20 million in financing, with participation from Polychain, SevenX Ventures, HF0, Hashkey Capital, and others.
Airstack
A developer platform for Web3 supported by AI, allowing developers to access and utilize on-chain data through AI-powered natural language requests. Airstack raised a total of $11 million, with investors including Superscrypt and Red Beard Ventures.
GaiaNet
A decentralized network for generating AI tools. GaiaNet aims to solve issues such as privacy protection, technical accessibility, and democratization of AI technology by allowing individuals worldwide to host and manage AI models on edge computing nodes. GaiaNet completed a $10 million seed financing round, with investors including EVM Capital, Mirana Ventures, and Mantle EcoFund.
ChainML
An AI research company supporting Web3, aiming to decentralize AI access. ChainML launched a framework called Theoriq for autonomous AI agents to complete complex tasks. ChainML raised $6.2 million in seed extension financing, led by Hack VC and with participation from Foresight Ventures, among others.
REVOX.ai
A modular on-chain AI network. REVOX.ai combines AI technology with decentralized architecture to provide more secure and efficient AI solutions. REVOX.ai raised $6 million, with investors including SevenX Ventures, Arweave SCP Ventures, Cointelegraph Acceleration, and 7upDAO.
Prime Intellect
A decentralized AI development platform aimed at democratizing AI technology. Prime Intellect raised $5.5 million, co-led by Distributed Global and Coinfund. The funds and resources will be used to promote global computing aggregation, distributed training framework development, and collaborative training of open AI models on Web3.
NodeOps
A blockchain node management platform. NodeOps provides AI infrastructure for node operators and developers to simplify the development process and operation of Web3 protocols. NodeOps completed a $5 million seed financing round, led by L1D.
Tensorplex Labs
Infrastructure for decentralized AI networks, aiming to accelerate the development of open and decentralized AI networks like Bittensor. Tensorplex Labs completed a $3 million seed financing round, with Canonical Crypto and Collab+Currency leading the round and Amber Group participating.
Hemera
A Web3 infrastructure startup, with the Hemera protocol being a Web3 large language model (LLM) operating system designed for developers. SocialScan is a community-owned AI based on this protocol. Hemera raised $2.6 million in seed financing, led by LIF Capital and Nomad Capital.
PrivateAI
A decentralized AI protocol. PrivateAI launched an AI-native distributed data platform, aiming to build the world’s first domain-specific large language model (LLM) for the longevity industry. PrivateAI completed strategic financing, with participation from DAO Maker, among others. The specific financing amount has not been disclosed.
Optopia.ai
An AI Layer2 network. Optopia.ai launched its mainnet in May, aiming to simplify Web3 operations through AI agents, lower the entry barrier for users, and empower AI agents through a token economic model. Optopia.ai completed seed financing with participation from G·Ventures and Kucoin Ventures, among others.
KIP Protocol
A Web3 underlying protocol focused on AI, with the goal of developing a secure and efficient decentralized Web3 underlying protocol that allows AI creators (data owners, model makers, AI application developers) to deploy their work on Web3 while retaining complete digital ownership. KIP Protocol’s strategic financing was led by Animoca Ventures, with the specific amount undisclosed.
AINN Layer2
A Bitcoin Layer2 network project that supports decentralized AI applications on a large scale. AINN Layer2 has received investments from institutions such as Amber Group.
NavyAI
A Solana-based AI model training platform that focuses on AI model training and self-learning. It provides an economically efficient solution to reduce AI bias and allows users to access and train virtual AI models through decentralized GPU resources, thereby enhancing accessibility and fair innovation of artificial intelligence. NavyAI completed seed financing with participation from X Ventures, among others, with the specific amount undisclosed.
Meson Network
A decentralized physical network. Meson Network focuses on DePIN+AI, and its “DePIN” nodes are developed using user-friendly technology to accommodate various hardware such as personal laptops, servers, and IoT devices. Meson Network’s new strategic financing round led by Presto Labs valued the company at $1 billion, with the specific financing amount undisclosed.
Compute Labs
An RWA tokenization protocol based on computation assets. Compute Labs, incubated by NVIDIA Inception VC Alliance, provides AI computing power returns for investors through the development of an enterprise-grade AI computing power tokenization protocol (CTP) and GPU restaking solution. Currently, CTP is live on the Solana testnet, with the mainnet expected to launch in the third quarter and complete the TGE by the end of the year.
Data: 10 projects, with multiple focuses on privacy and security
OpenLedger
A decentralized and permissionless data infrastructure that allows builders to create smarter and more efficient models using verifiable data. OpenLedger raised $8 million in seed financing led by Polychain Capital and Borderless Capital. The mainnet is expected to launch at the end of the year.
FLock
A Web3-native data privacy solution for AI, the “Federated Learning Oracle Chain” (FLocks) research project uses blockchain as a coordination platform between data holders to perform machine learning while keeping data local and private. FLock raised $6 million in seed financing, led by Lightspeed Faction and Tagus Capital, with participation from OKX Ventures and others.
Hyperline
A Web3-native data lake development company that builds shared storage and computing engines for Web3 developers to build AI products and analytical applications. Hyperline raised $5.2 million in seed financing, led by Slow Ventures.
Cookie3
A MarketingFi and AI data layer for Web3 enterprises, creators, and users. Cookie3 announced a $5.5 million token financing round, with investors including The Spartan Group and Animoca Brands.
Privasea
An AI-driven data security solution that integrates FHEML into a distributed computing crowdfunding network and combines it with its self-developed Depin mining machines to form an FHE computing network that supports all L1 and L2 chains. Privasea’s strategic private placement financing was led by OKX Ventures, Laser Digital under Nomura Group, and Tanelabs supported by SoftBank’s incubator. It also completed a $5 million seed financing round.
0xScope
A Web3 knowledge graph protocol. 0xScope has released 0xScope V2, with future focus on providing data support for Web3 AI applications through its proprietary Web3 data layer, connecting AI with Web3. 0xScope raised $5 million in Pre-Series A financing, led by HashKey Capital, with participation from OKX Ventures, GSR Markets, and others.
Ta-da
An AI data marketplace with a “gamified Web3” application model as its core. Ta-da raised $3.5 million in financing, with investors including Morningstar Ventures, MultiversX, GBV Capital, among others.
Inference Labs
A Web3 AI startup committed to making artificial intelligence more accessible and focusing on decentralized and privacy-centric technologies. Inference Labs raised $2.3 million in Pre-Seed financing, led by Digital Asset Capital Management, Delphi Ventures, and Mechanism Capital.
PublicAI
A decentralized Web3 AI training network that aims to generate massive amounts of high-quality training data through blockchain technology and allow anyone to contribute data and receive rewards. PublicAI completed a $2 million seed financing round, with participation from the Solana Foundation and Everstate Capital, among others.
AIT Protocol
An AI data infrastructure project. AIT Protocol aims to provide AI computing resources for Web3 through a decentralized AI network and has received $2 million in seed financing, with participation from Solana Foundation and Everstate Capital, among others.Scholars, based on the Web3 data infrastructure built on the blockchain, are mainly used for data annotation and AI model training, allowing encrypted users to participate in tasks and contribute to the development and training of AI models while receiving rewards. Participants in the latest round of financing for the AIT Protocol include Animoca Brands.
DeFi, with its main focus on driving innovation, has six categories:
1. Aperture Finance: An AI-driven DeFi platform that simplifies DeFi operations through innovative intent-driven methods, allowing users to specify desired results. Aperture Finance has raised a total of $12 million in financing, with supporters including Skyland Ventures, Blockchain Founders Fund, and Krypital Group.
2. onaji: A machine learning platform on the smart contract blockchain that has established a platform for training and deploying AI models. These models can participate autonomously in DeFi on Ethereum and Layer 2. onaji has completed a $2.5 million pre-seed financing round, with Stratos leading the investment and participation from Maven11, Uniswap Labs, IOSG Ventures, and others.
3. XRADERS: An AI-driven trading management and social platform on the BNB Chain. XRADERS has completed a $2.1 million pre-seed and seed financing round, with participation from FBG Capital and others.
4. 0xGen: An AI-driven DeFi platform. 0xGen has completed strategic financing with Principle68, Bella Protocol, Phoenix Chain, and others participating.
5. AgentFi: An AI-driven DeFi protocol in the Blast ecosystem. AgentFi’s first product uses the ERC-6551 standard to provide on-chain transaction services and automated services that generate revenue through NFT-bound wallet accounts. AgentFi has completed its first round of financing, with Generative Ventures leading the investment.
6. Sharpe: An AI-driven cryptocurrency application designed for professional traders, providing a unified platform for intelligence, investment, and automated digital asset management. Sharpe has completed seed financing, with participation from Animoca Brands, GBV Capital, and others, without disclosing the specific amount.
In the gaming and entertainment category, there are 15 projects that combine blockchain gaming with AI:
1. MetaCene: A Web3 MMO gaming platform that combines PVE and PVP gameplay, supporting guild DAO governance, a sustainable economic system, and in-game AIGC editing. MetaCene has raised $10 million in a private A round, with investments from Folius Ventures and SevenX Ventures.
2. Raiinmaker: Raiinmaker is building decentralized AI tools and Web3 infrastructure to support sports, gaming, and entertainment projects. Users can train AI through iOS or Android phones and receive rewards proportional to their impact on AI models. Raiinmaker has raised a total of $10 million, with a $7.5 million seed round led by Jump Capital and Cypher Capital.
3. DeepLink: A decentralized AI cloud gaming protocol that provides ultra-low latency game rendering solutions for AAA games and cloud cafes. DeepLink has raised a total of $8 million in angel and A rounds, with a valuation of $100 million. Investors include Gobi Ventures, Hycons, DBC, ROCK Ventures, and others.
4. ArenaX Labs: The developer of AI Arena, an AI-driven Web3 esports game. AI Arena allows users to train their own AI characters for battles, with the outcome of each battle depending on the player’s skills during training. ArenaX Labs has raised $6 million in a new round of financing, with Framework Ventures leading the investment and participation from SevenX Ventures and others.
5. Today: A Web3 social simulation game that is developing AI-generated intelligent NPCs and no-code creator tools. Today has raised $5 million in seed financing, with investments from Sfermion and Big Brain Holdings.
6. Studio 369: The developer of the blockchain TV game “MetalCore”, which is developing a dynamic mission system that generates unique tasks and goals using AI. The game is expected to open for testing at the end of 2024. Studio 369 has raised $5 million in a new round of financing this year, with investors including Delphi Digital, Bitkraft Ventures, and Sanctor Capital.
7. Play AI: A provider of AI and blockchain solutions focused on gaming and virtual reality. The platform includes Play Markets for data collection, Play Dojo for AI improvement, and Play Hub for seamless AI agent integration. Play AI has raised $4.3 million in its first round of financing, with investments from P2 Ventures, Jump Crypto, and others.
8. Sortium: A Web3 game studio focused on generative AI. The company’s technology integrates AI tools into existing game production ecosystems to automatically execute challenging content creation tasks. Sortium has raised over $4 million, with Signum Growth leading the investment and participation from Cathie Wood’s ARK Investment Management LLC and others.
9. GOALAI: A Web3 soccer fantasy game that integrates the blockchain NFT with real-world soccer communities, clubs, fans, and matches. GOALAI has raised $3 million in financing, with IDG Capital leading the investment and participation from KuCoin Ventures and others.
10. Stage: A Web3 music platform. Stage aims to provide fair rewards and deep engagement for artists and fans through Web3 integration, introducing play-to-earn models, RWA, and AI music. Stage has raised $2.4 million in financing, with participation from the Solana Foundation and others.
11. Cellula: A full-chain AI game that uses vPOW (virtual proof of work) as an asset allocation method to provide continuous incentives for games in the ecosystem. Cellula has raised $2 million in pre-seed financing, with SevenX Ventures and OKX Ventures leading the investment. Prior to this, Cellula also received strategic investment from Binance Labs’ Pre-Seed round through the Binance Incubator project.
12. EventCHI: A Dutch blockchain ticketing platform that seamlessly integrates AI and blockchain to provide a unified platform for cashless payments, NFT tickets, and smart events. EventCHI has raised over 1.6 million euros in seed financing.
13. Saltwater Games: A UK-based game studio and publisher composed of Nexus Labs, Maze Theory, and Saltwater Labs. Saltwater Labs focuses on developing Web3 and AI emerging technologies. The company has received investment from Animoca Brands.
In the application products category, there are 13 projects, with a focus on the creator economy:
1. MediConCen: A Hong Kong-based blockchain insurance technology company that digitizes paper-based and manual claims processes using the latest AI and blockchain technologies. MediConCen has raised $6.85 million in Series A financing, led by HSBC Investment Management, with participation from Gaomei Capital, bringing its total financing to $12.7 million.
2. MyShell: A Web3 AI platform focused on creators, targeting content creators and consumers, allowing the creation of AI agents or robots. MyShell has raised $11 million in a round of financing led by Dragonfly.
3. Bluwhale: An AI Web3 startup that adopts a new approach by giving control and revenue rights to wallet holders, enabling them to decide whether they are willing to interact with marketers and monetize their information. Bluwhale has raised $7 million in seed financing, with SBI leading the investment.
4. Adot: A decentralized AI search engine. Adot (a.xyz) has raised a total of $6 million in financing, with participation from Hash Global, SevenX Ventures, Mask Network, and others.
5. Sahara: A decentralized AI network that is trustless, permissionless, and privacy-centric, creating custom autonomous knowledge agents (Sahara KAs) for individuals and businesses to explore monetization and automation opportunities with their knowledge capital through AI. Sahara has raised $6 million in seed financing, led by Polychain Capital, with participation from Samsung Next and others.
6. YogaPetz: A decentralized mind-body-spirit ecosystem combined with AI. YogaPetz has raised over $5 million in funding through seed financing and NFT sales, with seed funding led by Animoca Brands, Newman Group, and Soul Capital Partners.
7. SOAI: An AI social platform that aims to reshape the virtual companion industry ecosystem globally through advanced AI technology, providing customized AI soul companions for billions of people. SOAI has raised $5 million in institutional angel financing, with Archer Capital investing $3 million and XForce Capital investing $2 million.
8. Bythen: An AI interaction protocol that is building an AI product protocol to create self-aware AI-driven 3D avatar agents. Bythen has raised $3 million in seed financing, with participation from East Ventures, BEENEXT, and others.
9. Talus Network: A blockchain platform focused on decentralized AI that aims to cultivate a diverse ecosystem of intelligent agents for decentralized applications, emphasizing security, speed, and an enhanced developer experience using the powerful capabilities of Move. Talus Network has raised $3 million, led by Polychain Capital, with participation from dao5 and others.
10. SmartLoC: A B2B payment solution based on blockchain and AI, focused on optimizing the way businesses conduct financial transactions globally using technologies such as IoT, blockchain, and AI. SmartLoC has raised 1.8 million euros in financing, led by High-Tech Gründerfonds (HTGF).
11. imgnAI: An encrypted AI platform that launched its image generation robot platform at the end of 2022. The imgnAI encrypted token on its website is used to unlock advanced features and directly mint images as NFTs. The imgnAI platform has raised $1.6 million in seed financing, led by Hack VC.
12. LinkTo: A Web3 traffic aggregation marketing platform that aims to provide a platform for brands and advertisers to accurately target and effectively reach their target audience by introducing advanced traffic injection technology and AI algorithms, while ensuring data security and user privacy. LinkTo has completed seed financing, with participation from Adaverse and others.
13. Creator.bid: A blockchain and AI-driven digital content monetization and ownership platform that supports content creators in building AI-driven digital assets to monetize their content and manage their work and income with enhanced autonomy. The financing amount of Creator.bid has not been disclosed, with investors including Mechanism Capital.
This article is a collaboration from PANews.
