Sahara AI, a Web3 blockchain and AI startup announced today it has raised $43 million in a funding round led by venture capital investors Pantera Capital, Binance Labs, and Polychain Capital.
Other notable investors include Samsung and Matrix Partners, crypto investment fund dao5, and venture fund Geekcartel.
Sahara AI secures $43M in series A funding
Founded in April 2023, this company is really shaking things up in the tech world by blending blockchain and artificial intelligence in a uniquely innovative way. What truly sets Sahara AI apart from typical AI models is its commitment to sharing the rewards. While many AI systems mainly cater to the interests of the companies that create them, Sahara AI’s platform ensures that users, data providers, and AI trainers are all acknowledged and compensated for their important contributions.
Sahara AI raised $43M to build a collaborative AI economy!
Co-led by @PanteraCapital, @BinanceLabs, and @polychain, this funding brings us closer to a future of open, equitable, and secure AI through our decentralized AI blockchain platform.
We also saw participation from… pic.twitter.com/f67Vi0nDey
— Sahara AI (@SaharaLabsAI) August 14, 2024
Sahara AI’s co-founder and CEO Sean Ren told Reuters that “There is often no transparency on how users’ proprietary models and agents are used by these centralized AI providers, and no protection or compensation for users’ contributions […] Ethical concerns over copyright, privacy, resource access, and economic imbalances continue to grow as AI becomes more widely adopted and capable.”
Generative AI is facing increasing scrutiny due to concerns surrounding copyright, privacy, and the ethical use of data. Sahara AI is taking a fresh approach to address these issues by smoothly weaving in blockchain technology, which guarantees transparency and fair rewards.
This could really raise the bar for the industry. As AI technologies keep advancing at a breakneck pace, it’s crucial to prioritize ethical considerations to shape the future landscape effectively.
Private investors are once again turning their attention to the blockchain and crypto sectors. This shift comes on the heels of a rise in bitcoin prices after a rocky patch, suggesting that confidence in technology-driven financial solutions is on the upswing.
