ChainML Raises $6.2 Million in Seed Extension Round

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As a seasoned crypto investor, I’ve seen my fair share of AI and blockchain projects coming and going. But when I heard about ChainML’s latest funding round and the introduction of Theoriq, their agentic base layer, I couldn’t help but feel a sense of excitement.

In a recent announcement, ChainML, an AI platform powered by web3 technology, revealed it has successfully secured $6.2 million in a seed extension financing round. The investment was spearheaded by Hack VC, with contributions from Foresight Ventures, Inception Capital, HTX Ventures, Figment Capital, Hypersphere Ventures, and Alumni Ventures.

In a recent development, IOSG Ventures has headed up a $Million equity investment round for ChainML, coming after their successful $4 million seed funding in September 2022. This latest announcement coincides with the unveiling of ChainML’s new framework, Theoriq. The completion and publicizing of this investment occur hand in hand.

ChainML’s Agentic Base Layer

ChainML introduces Theoriq, its innovative foundation for self-governing AI agents from ChainML, empowering them to tackle intricate tasks. Theoriq harnesses the power of blockchain technology, allowing for agent registration, remuneration, and enhanced security.

Hey there! Exciting news: Introducing Theoriq, our foundational technology for securely accessing AI agents. 🔓

— TheoriqAI (@TheoriqAI) May 13, 2024

Agents will be equipped with information from social media, public opinion, and blockchain data to carry out duties including document review, emotion assessment, and financial strategy formulation. The preliminary release of Theoriq on a test network is projected for the summer season, while the primary launch on the main network is predicted towards the end of the year.

I, as an analyst, can share that ChainML is looking to grow its workforce significantly by June, aiming for approximately 25 team members. New hires will be sought in engineering, research, and marketing sectors to establish a robust go-to-market team. ChainML aims to join the ranks of other prominent web3-enabled AI platforms such as Fetch.ai, Autonolas, and MyShell.

CEO Ron Bodkin exuded optimism about Theoriq’s capability to create advanced AI agents that can address challenges in the web3 sector and beyond.

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2024-05-13 21:24