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 index hitting a record high of 31 times. “AI First Stock” NVIDIA has also frequently appeared in the news, with its stock price soaring by 149% and entering the $3 trillion club.
At this opportune moment, almost all tech startups are talking about AI, even if they are not focused on the AI field, they will emphasize the AI technologies they have adopted. Well-known investment institutions such as a16z have also stopped setting up specialized AI funds because artificial intelligence now plays an important role in almost all startups. As another “hotspot” that the tech industry cannot avoid in recent years, the intersection of Web3 and AI is undoubtedly a direction worth exploring. The concept of “AI enhancing productivity, and Web3 changing production relations” brings infinite imagination to people.
According to the “Financing Weekly” column of PANews, PANews has conducted 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 more. The following will take stock of a total of 64 “Web3+AI projects” completed financing in the first half of 2024 according to this classification.
Infrastructure Category: 20 projects, with a maximum single financing amount of $85 million
Sentient
An AI research organization committed to building open-source AI models through community contributions, allowing users to access and contribute to models and provide rewards based on contributions. One of Sentient’s core contributors is Sandeep Nailwal, co-founder of Polygon. It will be built on Polygon and may also create its own chain through Polygon’s Chain Development Kit (CDK). It plans to launch a testnet in the third quarter of this year. Sentient raised $85 million in seed round financing led by Founders Fund, Pantera Capital, and Framework Ventures.
io.net
Solana ecosystem DePIN protocol, aiming to aggregate GPU resources for AI and machine learning (ML) companies, and build its decentralized GPU network to address AI computing shortages. io.net completed a $30 million Series A financing round 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. It was renamed Allora from Upshot in February this year and shifted from an NFT valuation platform to a decentralized AI network. Allora has 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 led by Archetype in November 2023, with participation from Accomplice and Robot Ventures.
Ora
An AI-driven blockchain project aiming to integrate AI into decentralized applications through its “On-chain AI Oracle.” Ora completed a $20 million financing round with participation from Polychain, SevenX Ventures, HF0, Hashkey Capital, and others.
Airstack
A developer platform supported by AI in the Web3 space, allowing developers to access and leverage on-chain data through AI-supported natural language queries. Airstack has raised a total of $11 million, with investors including Superscrypt and Red Beard Ventures.
GaiaNet
A decentralized AI tool network for generating AI models. By allowing individuals worldwide to host and manage AI models on edge computing nodes, GaiaNet aims to address privacy protection, technological accessibility, and democratization of AI technology. GaiaNet completed a $10 million seed round financing with participation from EVM Capital, Mirana Ventures, Mantle EcoFund, and others.
ChainML
An AI research and development company supporting Web3, aiming to decentralize AI access. It launched a framework called Theoriq for autonomous AI agents to perform complex tasks. ChainML raised $6.2 million in seed round expansion financing led by Hack VC, with participation from Foresight Ventures and 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 has raised $6 million, with investors including SevenX Ventures, Arweave SCP Ventures, Cointelegraph Acceleration, and 7upDAO.
Prime Intellect
A decentralized AI development platform aiming to democratize AI technology. Prime Intellect has raised $5.5 million, jointly led by Distributed Global and Coinfund. The funds and resources will be used to drive global computation 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 and operation process of Web3 protocols. NodeOps has completed a $5 million seed round financing led by L1D.
Tensorplex Labs
Infrastructure for decentralized AI networks, aiming to accelerate the development of open and decentralized AI networks such as Bittensor. Tensorplex Labs completed a $3 million seed round financing led by Canonical Crypto and Collab+Currency, with participation from Amber Group and others.
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 has completed a $2.6 million seed round financing led by LIF Capital and Nomad Capital.
PrivateAI
A decentralized AI protocol. PrivateAI has launched an AI-native distributed data platform, aiming to build the world’s first domain-specific LLM for the longevity industry. PrivateAI has completed strategic round financing, with participation from DAO Maker and others. The specific financing amount has not been disclosed.
Optopia.ai
An AI Layer2 network. Optopia.ai has launched its mainnet in May, aiming to simplify Web3 operations through AI agents, reduce user barriers, and empower AI agents through a token economy model. Optopia.ai has completed seed round financing with participation from G·Ventures and Kucoin Ventures.
KIP Protocol
A Web3 underlying protocol focused on AI, aiming to develop a secure and efficient decentralized Web3 underlying protocol that enables AI creators (data owners, model creators, AI application developers) to deploy their work on Web3 while retaining complete digital ownership. KIP Protocol’s strategic round financing was led by Animoca Ventures, with the specific amount undisclosed.
AINN Layer2
A Bitcoin Layer2 network project supporting decentralized AI applications at scale. AINN Layer2 has received investment from institutions including Amber Group.
NavyAI
A Solana-based AI model training platform dedicated to AI model training and self-learning. It provides cost-effective solutions to reduce AI bias and allows users to access and train virtual AI models through decentralized GPU resources, thereby improving accessibility and fair innovation in artificial intelligence. NavyAI has completed seed round financing with participation from X Ventures, with the specific amount undisclosed.
Meson Network
A decentralized physical network. Meson Network claims to focus on DePIN+AI and has developed user-friendly “DePIN” nodes that can accommodate various hardware such as personal laptops, servers, IoT devices, and more. Meson Network has secured a strategic financing round led by Presto Labs, with a valuation of $1 billion. The specific financing amount has not been disclosed.
Compute Labs
An RWA tokenization protocol based on computing assets. Compute Labs, incubated by NVIDIA Inception VC Alliance, provides AI computing income to investors through the development of the enterprise-grade AI computing power tokenization protocol CTP and GPU Restaking solutions. CTP is currently live on the Solana testnet, and the mainnet is expected to launch in the third quarter with TGE completion by the end of the year.
Data Category: 10 projects, with a focus on privacy and security
OpenLedger
A decentralized and permissionless data infrastructure that enables builders to create smarter and more efficient models using verifiable data. OpenLedger raised $8 million in seed round financing led by Polychain Capital and Borderless Capital. It is expected to launch its mainnet at the end of the year.
FLock
A native Web3 data privacy solution for AI. The “Federated Learning Blocks” (FLocks) research project uses blockchain as a coordination platform between data holders, enabling machine learning while keeping data local and private. FLock raised $6 million in seed round financing led by Lightspeed Faction and Tagus Capital, with participation from OKX Ventures and others.
Hyperline
A Web3-native data lake development company that enables Web3 developers to build shared storage and computing engines to support data applications and service functionalities for building AI products and analytics applications. Hyperline completed a $5.2 million seed round financing led by Slow Ventures.
Cookie3
A MarketingFi and AI data layer targeting Web3 enterprises, creators, and users. Cookie3 announced a $5.5 million token financing round, with investors including The Spartan Group, Animoca Brands, and others.
Privasea
An AI-driven data security solution that integrates FHEML into a decentralized computing power crowdfunding network and combines it with independently developed Depin miners to form an FHE computing power network supporting all L1 and L2. Privasea’s strategic private placement financing was participated by OKX Ventures, Laser Digital (backed by Nomura Group), and Tanelabs supported by SoftBank. It also completed a $5 million seed round financing.
0xScope
A Web3 knowledge graph protocol. 0xScope has released 0xScope V2, with a future focus on providing data support for Web3 AI applications through a proprietary Web3 data layer, connecting AI with Web3 in the process. 0xScope completed a $5 million Pre-Series A round of financing led by HashKey Capital, with participation from OKX Ventures, GSR Markets, and others.
Ta-da
An AI data marketplace with a core model of “gamified Web3.” Ta-da has completed $3.5 million in financing, with investors including Morningstar Ventures, MultiversX, GBV Capital, and others.
Inference Labs
A Web3 AI startup focused on making artificial intelligence more accessible and emphasizing decentralized and privacy-centric technologies. Inference Labs has completed a $2.3 million Pre-Seed round of financing led by Digital Asset Capital Management, Delphi Ventures, and Mechanism Capital.
PublicAI
A decentralized Web3 AI training network aiming to generate a massive amount of high-quality training data through blockchain technology, allowing anyone to be rewarded by providing data contributions. PublicAI has completed a $2 million seed round financing with participation from Solana Foundation and Everstate Capital.
AIT Protocol
An AI data infrastructureScholar, based on the blockchain, built Web3 data infrastructure primarily 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. Investors in the new round of financing for AIT Protocol include Animoca Brands, among others.
DeFi, six in total, with the main intention being driven
Aperture Finance
An AI-driven DeFi platform that simplifies DeFi operations through innovative intention-driven methods, allowing users to specify desired outcomes. Aperture Finance has raised a total of $12 million in financing, with supporters including Skyland Ventures, Blockchain Founders Fund, and Krypital Group.
onaji
A machine learning platform on the smart contract blockchain that has established a platform for training and deploying AI models, which can autonomously participate in DeFi on Ethereum and Layer 2. onaji has completed a $2.5 million Pre-Seed round of financing, with Stratos leading the investment and Maven11, Uniswap Labs, and IOSG Ventures participating.
XRADERS
An AI-driven trading management and social platform on the BNB Chain. XRADERS has completed $2.1 million in Pre-Seed and seed round financing, with participation from FBG Capital, among others.
0xGen
An AI-driven DeFi platform. 0xGen has completed strategic financing, with Principle68, Bella Protocol, and Phoenix Chain participating.
AgentFi
An AI-driven DeFi protocol in the Blast ecosystem. The first product of AgentFi utilizes the ERC-6551 standard and provides on-chain trading services and automated services for earning profits through wallet accounts bound by NFTs. AgentFi has completed its first round of financing, with Generative Ventures leading the investment.
Sharpe
An AI-driven encrypted application designed specifically for professional traders, providing a unified platform for intelligence, investment, and automated digital asset management. Sharpe has completed seed round financing, with participation from Animoca Brands, GBV Capital, and undisclosed amounts.
15 game and entertainment categories, with the combination of blockchain and AI as a trend
MetaCene
A Web3 MMO game platform that adopts PVE and PVP gameplay, supporting features such as guild DAO governance, sustainable economic systems, and in-game AIGC editing. MetaCene has completed a $10 million private A round of financing, with Folius Ventures and SevenX Ventures leading the investment.
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 in financing, with a $7.5 million seed round led by Jump Capital and Cypher Capital.
DeepLink
A decentralized AI cloud gaming protocol that provides ultra-low latency game rendering solutions for AAA games and cloud cafes, supporting 1ms ultra-low latency and 8K high-resolution gaming experiences through AI, blockchain, and streaming technologies. DeepLink has raised a total of $8 million in angel and A round financing, with an estimated valuation of $100 million, and investors including Gobi Ventures, Hycons, DBC, and ROCK Ventures.
ArenaX Labs
A developer of AI Arena, an AI-driven Web3 competitive game. AI Arena allows users to train their own AI characters for battles, with the outcome of each battle determined by the player’s skills in training, aiming to help users understand the operation and learning process of artificial intelligence. ArenaX Labs has completed a $6 million new round of financing, with Framework Ventures leading the investment and participation from SevenX Ventures, among others.
Today
A Web3 social simulation game that is developing AI-generated NPCs and no-code creator tools based on generative AI. Today has completed a $5 million seed round of financing, with participation from Sfermion and Big Brain Holdings.
Studio 369
The developer of the blockchain TV game “MetalCore,” which is developing a dynamic mission system that generates unique tasks and goals and is expected to open for game testing by the end of 2024. Studio 369 has completed a $5 million new round of financing this year, with investors including Delphi Digital, Bitkraft Ventures, and Sanctor Capital.
Play AI
A provider of AI and blockchain solutions focused on gaming and virtual reality, with platforms including Play Markets for data collection, Play Dojo for AI improvement, and Play Hub for seamless AI agent integration. Play AI has completed $4.3 million in seed round financing, with participation from P2 Ventures, Jump Crypto, among others.
Sortium
A Web3 game studio focused on generative AI, providing technology that integrates AI tools into existing game production ecosystems to automate challenging content creation tasks. Sortium has raised over $4 million in financing, with Signum Growth leading the investment and participation from ARK Investment Management LLC, a subsidiary of Cathie Wood’s ARK Invest.
GOALAI
A Web3 soccer fantasy game that integrates the blockchain NFT with the real-world soccer community, clubs, fans, and matches, applying AI to bring potential and commercial value to Web3 soccer enthusiasts. GOALAI has raised $3 million in financing, with IDG Capital leading the investment and participation from KuCoin Ventures, among others.
Stage
A Web3 music platform. Stage aims to empower artists and fans to receive fair rewards and deep engagement 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, among others.
Cellula
A full-chain AI game that provides ongoing incentives for games in the ecosystem through the use of virtual proof-of-work (vPOW) for asset allocation. Cellula has completed a $2 million Pre-Seed round of financing, with joint investment from SevenX Ventures and OKX Ventures. Prior to this, Cellula also received strategic investments from Binance Labs through the Binance incubator program.
EventCHI
A Dutch blockchain ticketing platform. Through seamless integration of AI and blockchain, EventCHI provides a unified platform for cashless payments, NFT ticketing, and intelligence. EventCHI has completed a seed round financing of over €1.6 million.
Saltwater Games
A game studio and publisher based in the UK, composed of three game studios: Nexus Labs, Maze Theory, and Saltwater Labs, with Saltwater Labs focusing on the development of Web3 and AI emerging technologies. Saltwater Games has received investment from Animoca Brands.
CARV
A modular data layer focused on the game and AI industries. As the sole author of ERC7231, CARV has built the CARV Protocol, integrating with over 40 chains, Google Cloud, and other identity, storage, infrastructure, and AI ecosystems. CARV has received support from Vertex Ventures, ConsenSys, Tribe Capital, IOSG Ventures, HashKey Capital, Animoca Brands, and others.
Sleepless AI
A Web3+AI gaming platform that has completed a new round of financing led by Folius Ventures, with the specific amount undisclosed. According to its introduction, Sleepless AI is the winner of the Binance MVB V accelerator and has previously received investments from Binance Labs and Foresight Ventures.
13 application product categories, with a focus on creator economy
MediConCen
A Hong Kong blockchain insurance technology company that utilizes AI and blockchain technology to digitize paper-based and manual claims processes. MediConCen has completed a $6.85 million A round of financing, with lead investment from HSBC Investment Management and participation from Gao Mei Capital, bringing its total financing to $12.7 million.
MyShell
A Web3 AI platform focused on creators, targeting both content creators and consumers, allowing the creation of AI agents or robots. MyShell has raised $11 million in a funding round led by Dragonfly.
Bluwhale
An AI Web3 startup that adopts a new approach by giving control and revenue rights to wallet holders, enabling them to decide whether to interact with marketeers and monetize their information. Bluwhale has completed a $7 million seed round of financing, with SBI leading the investment.
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, among others.
Sahara
A decentralized AI network that is trustless, permissionless, and privacy-centric, creating customized Autonomous Knowledge Agents (Sahara KA) for individuals and businesses to enable everyone to explore monetization and automation opportunities with their knowledge capital through AI. Sahara has completed a $6 million seed round of financing, with Polychain Capital leading the investment and participation from Samsung Next, among others.
YogaPetz
A decentralized mind-body-spirit ecosystem combining AI, which has raised over $5 million in funding through seed rounds and NFT sales, with seed round financing led by Animoca Brands, Newman Group, and Soul Capital Partners.
SOAI
An AI social platform that aims to reshape the virtual companion industry ecosystem for billions of people worldwide through advanced AI technology, providing customized AI soul companions. SOAI has completed a $5 million institutional angel round of financing, with Archer Capital investing $3 million and XForce Capital investing $2 million.
Bythen
A human-AI interaction protocol that is building an AI product protocol to create autonomous AI-driven 3D avatar agents. Bythen has completed a $3 million seed round of financing, with participation from East Ventures, BEENEXT, among others.
Talus Network
A blockchain platform focused on decentralized AI, which aims to cultivate a diverse ecosystem of intelligent agents for decentralized applications by leveraging the powerful capabilities of Move, emphasizing security, speed, and enhanced developer experience. Talus Network has raised $3 million in financing, with Polychain Capital leading the investment and participation from dao5, among others.
SmartLoC
A B2B payment solution based on blockchain and AI, focusing on optimizing the way businesses conduct financial transactions globally through technologies such as IoT, blockchain, and AI. SmartLoC has completed €1.8 million in financing, with lead investment from High-Tech Gründerfonds (HTGF).
imgnAI
An encrypted AI platform that launched its image generation robot platform at the end of 2022, with the imgnAI encrypted token on its website used to unlock advanced features and directly mint images as NFTs. The encrypted AI platform imgnAI has completed a $1.6 million seed round of financing, led by Hack VC.
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 through the introduction of advanced traffic injection technology and AI algorithms, while ensuring data security and user privacy. LinkTo has completed seed round financing, with participation from Adaverse, among others.
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 content and manage authorship, providing tools to enhance creators’ autonomy over their work and income. The financing amount for Creator.bid has not been disclosed, with investors including Mechanism Capital, among others.
This article is a collaborative reprint from PANews.