Prime Intellect, a San Francisco, CA-based open and decentralized AI platform and protocol, has raised a $5.5 million seed round.
Investors
The round was co-led by Distributed Global and CoinFund. Other participants include Compound, Collab+Currency, and Filecoin Creator Juan Benet with Protocol Labs, as well as prominent angel investors including Hugging Face CEO Clem Delangue.
Founded in 2017, Distributed Global is a venture capital firm based in Los Angeles, California. The firm focuses on the blockchain and digital asset ecosystem.
CoinFund is a private cryptoasset investor and blockchain research and advisory firm. The firm invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure.
Prime Intellect
The funding will be utilized to build out the compute platform, enabling decentralized training across instances and facilitating co-ownership of AI models through contributions of compute, code, data, capital, or expertise.
About Prime Intellect
Founded by Vincent Weisser and Johannes Hagemann, Prime Intellect is a company that provides a decentralized AI platform and protocol democratizing access to compute and intelligence. The platform enables the training of state-of-the-art AI models through globally aggregated compute, enabling decentralized training across instances and empowering users to co-own AI models by contributing compute, code, data, capital, or expertise. At the core of the company's platform is the Prime Intellect (PI) protocol, which provides critical infrastructure and cryptoeconomic building blocks for decentralized AI development.
Funding Details
Company: Prime Intellect, Inc.
Raised: $5.5M
Round: Seed Round
Funding Month: April 2024
Lead Investors: Distributed Global, CoinFund
Additional Investors: Compound, Collab+Currency, Juan Benet, Clem Delangue
Company Website: https://www.primeintellect.ai/
Software Category: Decentralized AI Platform and Protocol
Source: https://www.prnewswire.com/news-releases/prime-intellect-secures-5-5m-in-seed-funding-co-led-by-distributed-global-and-coinfund-to-advance-its-decentralized-and-collaborative-ai-ecosystem-302124585.html