Verida has raised $5 million in a seed funding round that included participation from O-DE Capital Partners, ChaiTech Ventures and Simurg Labs, among other investors.
DePIN network developer Verida has raised $5 million "to address the growing concerns over user data privacy in the age of Big Tech AI."
The seed funding round included participation from O-DE Capital Partners, ChaiTech Ventures, Simurg Labs, as well as Gate Labs, HASH CIB, Bison Capital, Amesten Capital and Mysten Labs’ Evan Cheng. The $5 million was also raised through community pre-sales of the Verida Storage Credit token. The capital will fund the development of alternative data storage solutions geared toward internet users who want to prevent their data from being used to train AI.
“Verida is poised to disrupt the AI landscape by putting users back in control of their data, unlocking more secure, privacy-preserving personalized AI for everyone,” a Verida representative said in a statement.The freshly raised capital will develop Verida's personal data ownership infrastructure.
As the AI market grows, so too have concerns about language-learning models’ use of internet users’ data. Earlier this month, social media platform Meta signaled it planned to utilize its European users’ data to enhance its artificial intelligence models’ performance. Meanwhile, X last year said it would tap its users’ biometric data to train AI in an update to its privacy policy. Disclaimer: The Block is an independent media outlet that delivers news, research, and data.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
19 Toxic Things Partners Have Said To Their Partners'I don't care how much I loved him; what he said broke me.'
Read more »
At the Potomac, Where DC, the Analog Political National Capital, and VC, the Digital Capital, MeetData Centers and AI demand for electricity provide a forcing funciton to roduce policies designed to provide essential reliable, abundant, affordable energy.
Read more »
DFW firm puts downtown sites it had slated for apartments up for saleNewstream Capital Partners puts downtown San Antonio sites it had slated for apartments up for sale.
Read more »
Thrive Youth Center partners with San Antonio businesses to raise funds during Pride MonthThrive Youth Center is partnering with several businesses in the area to raise funds for Pride Month, furthering its mission of transforming the lives of LGBTQ+ homeless young adults.
Read more »
Regional News PartnersIndianapolis News, Indiana Weather, Indiana News, Indiana Traffic, Indiana Local News, Indiana Sports, Community, Entertainment
Read more »
Research: Warehouse and Logistics Automation Works Better with Human PartnersA study of automation usage in warehouse and logistics companies around the world suggests that blending human labor with robotics leads to greater efficiency than full automation alone. While scalable robotic systems can handle up to 1,000 tasks per hour, they often face limitations where additional robots don’t improve performance.
Read more »