Binance Labs has just announced its new investment in Sahara AI, a blockchain platform that focuses on open and fair AI. This move has generated excitement in the industry as artificial intelligence becomes more important worldwide.According to an official statement from the venture capital firm, Sahara AI raised $43 million in its Series A funding round today, August 14. This round saw significant investment from Binance Labs and other major backers.
Polychain Capital and Pantera Capital led the Series A round, with Binance Labs being a top-tier investor. SamsungNext and Mirana Ventures were also key contributors, while Foresight Ventures, Canonical Crypto, and several other investors participated as well. The Series A funding round wrapped up today. Earlier this year, in March, Sahara AI secured $6 million in seed funding. This initial round was supported by Sequoia Capital, Polychain Capital, and other notable investors.
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Sahara AI Secures $43 Million in Series A Funding
Sahara AI announced on X that the $43 million raised will be used to develop a collaborative AI economy. “This funding moves us closer to a future of open, fair, and secure AI through our decentralized AI blockchain platform,” the company said.
The AI firm also revealed that it recently rebranded its logo, color scheme, and website. It highlighted the investment, saying, “We’re excited to work with Binance Labs to build a future where AI is fair, transparent, ethical, and accessible to everyone.”
Sahara AI focuses on addressing data, copyright, and privacy issues related to AI. “As AI becomes more widespread and advanced, concerns about copyright, privacy, resource access, and economic imbalances are growing,” said Sean Ren, the firm’s co-founder and CEO.
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