MyShell Secures $11M Funding to Expand Decentralized AI Platform


Key Takeaways:

– Tokyo’s start-up MyShell has raised $11 million in early-stage funding for its decentralized AI platform.
– Dragonfly Capital led the Pre-Series A funding round with input from various investors.
– The blockchain-based platform allows users to create chatbots and productivity apps.

Tokyo-based start-up MyShell recently announced an $11 million cash injection for its unique blockchain-based decentralized AI platform. The early-stage funding, led by Dragonfly Capital, will primarily be used in the development and expansion of the platform which enables users to produce productivity apps and chatbots.

A Growing Interest in AI and Blockchain Technology

The fundraising marks a burgeoning interest in the intersection of AI and blockchain technology. MyShell’s unique offering lies in creating a decentralized platform that takes advantage of both these revolutionary technologies. Users can build their chatbots and productivity applications on this platform, reaping the benefits of the security and transparency offered by blockchain and the intelligent automation brought about by AI.

Investment Leading to Expansion

In the Pre-Series A round, various high-profile investors participated alongside Dragonfly Capital, such as Delphi Ventures, Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, and OKX Ventures. The generous investment pool is indicative of the growing confidence in MyShell’s AI-based vision for decentralization.

Endeavoring to Enhance Productivity

MyShell’s grand vision promotes an increase in productivity via AI and blockchain. With the aid of the decentralized platform developed by MyShell, any user can create highly efficient chatbots or apps, mitigating the need for third-party interference and benefitting from greater data control.

Subsequent Use of Fund

The Tokyo-based company intends to utilize this funding for enhancing its existing AI platform, fueling future expansion, and fortifying team recruitment to meet the growing technological needs. With this, the firm is expecting to accelerate its growth trajectory in the AI and blockchain space.

In Conclusion

As the technologies of blockchain and AI continue to mature, we can anticipate seeing a surge in innovative combinations like MyShell’s offering. This substantial investment in MyShell suggests a strong belief in the potential of decentralized AI platforms, thus accelerating advancements in this space. The start-up’s revolutionary combination of blockchain and AI to create a decentralized platform is an exciting venture and one to watch as it scales up its development with this funding boost.

With MyShell riding the wave of AI and blockchain, we can probably expect more ventures to explore this fruitful intersection. Undoubtedly, it will be interesting to see how the marketplace responds to these intelligent, decentralizing solutions as more businesses open their arms to embrace blockchain and AI. The $11 million investment in MyShell only reinforces the significance of decentralized AI as a future trend in technology.

Jonathan Browne
Jonathan Browne
Jonathan Browne is the CEO and Founder of Livy.AI

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