Tensorplex Labs, a Web3 and artificial intelligence (AI) startup, raised $3m in seed funding.
The round was led by Canonical Crypto and Collab+Currency with participation from Digital Currency Group, Quantstamp and Amber Group.
The company intends to use the funds to expand the infrastructure for decentralized AI networks.
Tensorplex Labs is building foundational railways for open-source AI development and applications, through leveraging on existing principles of decentralized finance and proof-of-stake networks. The company plans to enable an integration and interaction between DeFi applications and decentralized AI technologies.
Applications include:
Tensorplex LST represents a liquid staking solution for Decentralised AI Network tokens, beginning with Bittensor (TAO). It offers users a straightforward method to participate in the network and earn rewards on their Decentralised AI network tokens. By opting for Tensorplex LST, tokens remain liquid, allowing integration and use in various DeFi applications, thus enhancing their composability.
Stream is a showcase application built by the Team to demonstrate the use of existing Bittensor Subnets to power consumer Web3 platforms. This tool is designed to streamline the process of gathering latest information in the crypto market. When Tensorplex releases the TPLX-LLM, Stream will be upgraded to incorporate this advanced model to provide more precise summaries and deeper insights.
FinSMEs
26/03/2024