This edition of Cointelegraph’s VC Roundup features Lombard, Redacted, RedStone, Covalente, and more.
The intersection of artificial intelligence and blockchain seems to be a growing focus for venture capitalists and innovators worldwide. Companies developing solutions based on these technologies disclosed substantial capital raises in June, many of them seed rounds.
One of these protocols is Sentient, which raised $85 million in funding to develop an open-source artificial intelligence platform. The round was led by Peter Thiel’s Founders Fund, Pantera Capital, and Framework Ventures. The startup is an AI research organization that wants to enable developers to monetize their open-source models and data, similar to other ecosystems such as the Super Intelligence Alliance.
Another startup, ORA, also uses AI models and blockchain to generate revenue for developers. In early June, the protocol raised $20 million from Polychain, HF0 and Hashkey Capital. It’s working on a mechanism that will entitle anyone who buys a token to own and share revenue generated by an AI model.