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
Sahara AI, founded in April 2023, is currently making waves in the technology industry by merging blockchain and artificial intelligence in an innovative way. Unlike standard AI models, which primarily benefit the companies behind them, Sahara AI’s platform rewards users, data sources, and AI trainers.
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’s innovative approach tackles these concerns by seamlessly integrating blockchain technology, ensuring transparency as well as equitable rewards.
This has the potential to establish a groundbreaking industry standard. With the swift development of AI technologies, ethical considerations will be crucial in shaping the future landscape.
To that end, Private investors are showing a renewed interest in the blockchain and crypto sectors. This coincides with a surge in bitcoin prices following a period of instability, indicating increased investor trust in technology-based financial solutions.
Also Read: Goldman Sachs Bets on Bitcoin ETFs: Reveals $418M Holding
Source: https://www.cryptonewsz.com/sahara-ai-raise-43-million-led-by-binance-labs/