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.png "FLock.io Raises $3M for Decentralized AI, Bringing Total to $11M")
LONDON, December 19, 2024 – FLock.io, a pioneering platform for decentralized and private AI model development and training, today announced a successful $3 million strategic funding round, led by Digital Currency Group (DCG). This latest investment brings FLock.io's total funding to $11 million, further solidifying its position as a leader in the rapidly evolving decentralized AI landscape. The round saw participation from a diverse group of prominent investors, including Faction, Animoca Brands, Fenbushi Capital, OKJ, GnosisVC, Bas1s Ventures, A41, and GSR.
FLock.io is building a community-driven platform that leverages the power of federated learning and blockchain technology. This innovative approach enables secure, collaborative, and private AI model training without requiring participants to share their sensitive data. By decentralizing the training process, FLock.io aims to democratize AI development, making it more accessible and equitable for developers worldwide.
This funding round follows a recent grant awarded to FLock.io by the Ethereum Foundation to research incentive mechanisms for blockchain-based AI training. This research is crucial for driving participation and ensuring the long-term sustainability of the FLock.io ecosystem. The $3 million investment will be used to scale the platform, prepare for mainnet launch, and expand engagement with private AI contributors globally.
"This funding round validates the growing recognition of decentralized AI's transformative potential across various industries," said Jiahao Sun, Founder and CEO of FLock.io. "With the support of DCG and our other investors, we are committed to building a community-driven AI ecosystem where developers can democratically participate in the entire AI development lifecycle, benefiting from shared governance and equitable rewards."
Anna Bertha, Investor at DCG, echoed this sentiment, stating, "FLock.io aligns perfectly with DCG's vision of a more open and accessible technological landscape. Their commitment to democratizing AI model training, rewarding contributions to an open and collaborative system, and removing barriers to participation represents a significant paradigm shift in how AI is trained and deployed. We have supported Jiahao and his team since FLock.io's inception, and we are excited to continue backing them as they expand their network of investors and further develop their groundbreaking platform."
FLock.io's platform is already demonstrating significant traction. Currently, over 30 models are actively running on the platform, spanning both Web2 and Web3 use cases. A thriving community of over 1,500 training and validation nodes from communities and institutions like Numerai, Kaggle, Foundry, and Tensorplex has contributed to the creation of over 19,000 models.
About FLock.io:
FLock.io is a community-driven platform that empowers developers to create on-chain, decentralized AI models. By combining federated learning and blockchain technology, FLock.io ensures fair incentives for data contributors and promotes open collaboration. The platform addresses the growing demand for advanced, customized AI models while mitigating the risk of data breaches by providing a secure training environment that protects source data.
About DCG:
Digital Currency Group is a global enterprise dedicated to building the future of the digital asset ecosystem. DCG invests in early-stage companies, builds and supports industry-leading businesses, and provides institutional-grade research, data, and insights to empower the digital asset community.
About other investors:
This round also includes participation from Faction (decentralized compute protocol), Animoca Brands (blockchain gaming and metaverse), Fenbushi Capital (blockchain-focused venture capital), OKJ, GnosisVC, Bas1s Ventures, A41, and GSR (digital asset trading firm), demonstrating broad support for FLock.io’s vision.
Compiled by CMO Intern team
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