Decentralized AI project GaiaNet raises $10 million in funding round

AI infrastructure project GaiaNet has raised $10 million to decentralize networks for generative AI tools. 

The seed funding round included participation from EVM Capital, Mirana Ventures, Mantle EcoFund, Generative Ventures’ Lex Sokolin, and Republic Capital’s Brian Johnson. According to a statement issued Tuesday, the newly raised capital will finance GaiaNet’s development of educational tools for STEM students and support its work to leverage distributed ledger technology to decentralize AI networks. 

“With the recent investment, we’re able to take a step further in our commitment to redefining the boundaries of AI, making them more accessible, data bias-resistant, collaborative, and privacy-centric.” GaiaNet CEO Matt Wright said in the statement. 

The funds will support GaiaNet’s development of AI-powered chatbot “teaching assistants” designed for university students taking computer science and other STEM courses. The initiative forms part of the firm's partnership, announced earlier this year, to develop the chatbots with the University of California at Berkeley. 

GaiaNet also plans to continue building out a distributed network of edge nodes controlled by individuals and businesses to host its AI models. In doing so, the firm aims to provide AI users with more private and secure tools than existing Big Tech-developed AI software, GaiaNet said.