Decentralized AI Network Sahara Secures Funding in Samsung-Backed Round
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On Wed, 14 Aug, 4:03 PM UTC
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Decentralised AI network Sahara raises fresh capital in Samsung NEXT-backed round
The series A funding also drew investments from Samsung NEXT alongside early-stage investor Matrix Partners, crypto investment fund dao5 and venture fund Geekcartel, among others. Sahara AI did not disclose the valuation at which the latest round was raised.Sahara AI, a startup integrating the blockchain and artificial intelligence, said on Wednesday it raised $43 million in a funding round led by venture capital investors Pantera Capital, Binance Labs and Polychain Capital. The series A funding also drew investments from Samsung NEXT alongside early-stage investor Matrix Partners, crypto investment fund dao5 and venture fund Geekcartel, among others. The company did not disclose the valuation at which the latest round was raised. Why it's important Sahara AI aims to reward the users, data sources, and AI trainers crucial to the success of generative AI through its decentralized blockchain platform, unlike the current model which typically benefits the company that created it. The company intends to use the funds to expand its global team, enhance the performance of its platform and grow its developer ecosystem. Since its founding in April 2023, Sahara AI has collaborated with several high-profile tech firms including Microsoft, Amazon and Snap. Context Data forms the building block of generative AI to produce human-like creation, but the booming sector has come under scrutiny over concerns over fair use of data, copyright and privacy issues. Meanwhile, the crypto and blockchain sector has also drawn significant interest from private investors this year amid a rally in the price of bitcoin after a prolonged dry spell due to industry volatility. Key quotes "There is often no transparency on how users' proprietary models and agents are used by these centralized AI providers, and no protection or compensation for users' contributions," Sahara AI's co-Founder and CEO Sean Ren told Reuters. "Ethical concerns over copyright, privacy, resource access, and economic imbalances continue to grow as AI becomes more widely adopted and capable."
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Decentralized AI network Sahara raises fresh capital in Samsung-backed round
Aug 14 (Reuters) - Sahara AI, a startup integrating the blockchain and artificial intelligence, said on Wednesday it raised $43 million in a funding round led by venture capital investors Pantera Capital, Binance Labs and Polychain Capital. The series A funding also drew investments from tech giant Samsung alongside early-stage investor Matrix Partners, crypto investment fund dao5 and venture fund Geekcartel, among others. The company did not disclose the valuation at which the latest round was raised. WHY IT'S IMPORTANT Sahara AI aims to reward the users, data sources, and AI trainers crucial to the success of generative AI through its decentralized blockchain platform, unlike the current model which typically benefits the company that created it. The company intends to use the funds to expand its global team, enhance the performance of its platform and grow its developer ecosystem. Since its founding in April 2023, Sahari AI has collaborated with several high-profile tech firms including Microsoft , Amazon and Snap. CONTEXT Data forms the building block of generative AI to produce human-like creation, but the booming sector has come under scrutiny over concerns over fair use of data, copyright and privacy issues. Meanwhile, the crypto and blockchain sector has also drawn significant interest from private investors this year amid a rally in the price of bitcoin after a prolonged dry spell due to industry volatility. KEY QUOTES "There is often no transparency on how users' proprietary models and agents are used by these centralized AI providers, and no protection or compensation for users' contributions," Sahara AI's co-Founder and CEO Sean Ren told Reuters. "Ethical concerns over copyright, privacy, resource access, and economic imbalances continue to grow as AI becomes more widely adopted and capable." (Reporting by Manya Saini in Bengaluru; Editing by Vijay Kishore)
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USC Professor Lands $43 Million in Funding for AI Startup
Sahara AI, a startup co-founded by a University of Southern California associate professor, has raised $43 million as it seeks to address thorny copyright and privacy issues surrounding artificial intelligence technology. The Series A funding was led by Pantera Capital and Polychain Capital and included investors such as Samsung, Matrix Partners, Nomad Capital as well as angel investors and founders from the industry, the startup said in a statement on Wednesday. It will deploy the capital to expand its team of experts and develop its technology.
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Sahara, a decentralized AI network, has raised fresh capital in a funding round backed by Samsung Next. The startup aims to revolutionize AI infrastructure with its decentralized approach.
Sahara Secures New Funding
Sahara, a pioneering decentralized artificial intelligence (AI) network, has successfully raised fresh capital in a funding round led by Samsung Next, the venture capital arm of Samsung Electronics 1. This latest investment marks a significant milestone for the startup, which is aiming to revolutionize the AI infrastructure landscape with its innovative decentralized approach.
Decentralized AI: A New Paradigm
Sahara's unique selling proposition lies in its decentralized AI network, which stands in contrast to the centralized models currently dominating the industry. By leveraging blockchain technology and distributed computing, Sahara aims to create a more efficient, scalable, and democratized AI ecosystem 2. This approach could potentially address some of the key challenges faced by traditional AI systems, such as data privacy concerns and computational bottlenecks.
Samsung's Strategic Investment
The involvement of Samsung Next in this funding round is particularly noteworthy. As a global leader in technology and innovation, Samsung's interest in Sahara underscores the potential impact of decentralized AI networks on the future of technology 1. This investment not only provides Sahara with crucial financial support but also lends credibility to its vision and technology.
Market Impact and Future Prospects
While the exact amount of funding raised has not been disclosed, the investment is expected to significantly boost Sahara's development and market presence. The company plans to use the fresh capital to further enhance its technology, expand its team, and accelerate its go-to-market strategy 2.
Broader Trends in AI Funding
Sahara's successful funding round is part of a larger trend of increased investment in AI startups. For context, other AI companies have also been securing substantial funding. For instance, a University of Southern California professor recently landed $43 million in funding for his AI startup, highlighting the growing investor interest in innovative AI technologies 3.
Challenges and Opportunities
As Sahara moves forward with its decentralized AI network, it will face both challenges and opportunities. The company will need to navigate technical hurdles, regulatory landscapes, and market adoption. However, if successful, Sahara's technology could potentially disrupt the AI industry, offering a more distributed and accessible approach to artificial intelligence.
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