ChainML Emerges as a Web3 AI Leader with $6.2M Seed Extension and Theoriq Reveal

ChainML, a decentralized AI platform, has raised $6.2 million in an extended seed funding round led by Hack VC. The investment, which includes equity and token warrants, supports the development of ChainML's agentic base layer, Theoriq, a blockchain-enabled framework for autonomous AI agents. Theoriq aims to empower web3 communities with sophisticated AI services, leveraging social media, feedback, and on-chain data to perform various tasks. ChainML plans to launch Theoriq's testnet this summer and mainnet later this year.

ChainML Emerges as a Leading Force in Web3-Enabled AI with $6.2 Million Seed Extension Round and Unveiling of Agentic Base Layer Theoriq

New York, New York - March 9, 2023 - ChainML, a groundbreaking web3-enabled AI platform, has announced a significant milestone in its journey, having successfully secured $6.2 million in a strategic seed extension round. Led by Hack VC, this round garnered the support of esteemed venture capital firms such as Foresight Ventures, Inception Capital, HTX Ventures, Figment Capital, Hypersphere Ventures, and Alumni Ventures.

ChainML's seed extension round follows its initial seed funding round in September 2022, where it raised $4 million under the guidance of lead investor IOSG Ventures. The latest funding, structured as equity with token warrants, demonstrates the growing confidence in ChainML's mission to decentralize AI and empower communities through its innovative agentic base layer, Theoriq.

Theoriq: Revolutionizing AI Access for Web3

At the heart of ChainML's vision lies Theoriq, an ingenious framework designed to unleash autonomous AI agents capable of tackling complex tasks efficiently. By leveraging blockchain technology, Theoriq empowers the registration, payment, and security of these agents within the web3 ecosystem.

"We firmly believe that our agentic base layer, Theoriq, will become a cornerstone of value creation in the evolving web3 landscape," stated Ron Bodkin, Co-Founder and CEO of ChainML, previously a Technical Director of Applied Artificial Intelligence at Google. "Theoriq empowers users with intuitive access to the value drivers of web3, ranging from decentralized finance (DeFi) and infrastructure to staking and memecoins. We actively collaborate with resource providers in DePIN compute, inference, and data to ensure seamless integration and maximum impact."

Envisioning a Future of AI-Powered Web3 Communities

Envisioning a future where AI empowers web3 communities, ChainML has forged strategic partnerships with established web3 projects to introduce AI agents tailored to their specific needs. These agents will be showcased at the upcoming Consensus 2024 event, providing real-world examples of Theoriq's effectiveness.

"Our AI agents leverage multiple input sources, including social media, community feedback, and on-chain data, to perform a diverse range of tasks that cater to web3 communities," explained Bodkin. "From the analysis of documentation and sentiment to more sophisticated investment planning, these agents are designed to alleviate pain points and enhance the web3 experience."

Building Momentum with Testnet and Mainnet Launch

To accelerate the adoption of Theoriq, ChainML has set ambitious plans for the launch of its testnet this summer, followed by the mainnet later this year. The company's workforce is expected to expand significantly, with around 25 team members in place by June and additional hires planned in engineering, research, and go-to-market functions.

"ChainML stands out as a visionary platform in the web3-enabled AI landscape," remarked Bodkin. "We compete with other notable players such as Fetch.ai, Autonolas, and MyShell, but we are confident that Theoriq will establish itself as the framework of choice for delivering AI agents that address critical challenges in web3 and beyond."

ChainML's mission resonates with the growing demand for decentralized and community-driven AI solutions. As the web3 ecosystem continues to evolve, the company's dedication to empowering communities through its agentic base layer positions it as a trailblazer in the democratization of AI.