Vana, a San Francisco, California-based developer of a decentralized network for user owned data, raised $5M in strategic funding.
The round, led by with Coinbase Ventures, brought total funding to $25M to date. The total amount included a $18M Series A with Paradigm and a $2M Seed with Polychain. Other backers include: Casey Caruso, Packy McCormick, Manifold, GSR, Will Price, Jez, SCB 10X, Defiance Capital, Contango, Auros Ventures, MH Ventures, BoxGroup, and Will Manidis.
The company intends to use the funds to accelerate the development of Vana and support the ecosystem of decentralized AI projects built with user-owned data.
Vana is a network designed for private, user-owned data. It consists of an EVM-compatible layer 1 blockchain designed specifically for collective ownership of private digital assets: the private data that empowers AI, along with native support for pooling data through data DAOs and rewards for the top 16 data liquidity pools.
Key features of Vana include:
- Users pool their data via data DAOs, secured by proof of contribution
- Contributors earn ownership in the AI models they help create
- EVM compatible for flexible incentives: dataset-specific tokens, AI model-specific tokens
- Top 16 data DAOs earn a share of emissions
FinSMEs
19/09/2024