Decentralized AI Platform Sahara AI Secures $43M Series A Led by Binance Labs
CryptoNewsTerminal Staff14 Aug, 2024
Decentralized AI Platform Sahara AI Secures $43M Series A Led by Binance Labs
Sahara AI, the decentralized artificial intelligence (AI) + blockchain platform, has raised $43 million in Series A funding. The round was led by Binance Labs, Pantera Capital, and Polychain Capital, with participation from Samsung, Foresight Ventures, Matrix Partners, and Dao5, among others. The valuation at which the round was closed was not disclosed. Sahara AI was launched with the mission of rewarding users, data, and AI trainers who contribute to the success of generative AI on a decentralized blockchain platform, as opposed to the traditional model where all the benefits accrue to the company that creates the AI model. Sahara plans to use the funds to expand its global team, enhance the capabilities of its platform, and grow its developer ecosystem. "We are thrilled to have the support of such a prestigious group of investors," said Sahara AI CEO and co-founder Michael Gronager. "This funding will enable us to accelerate the development of our platform and bring decentralized AI to the mainstream."
