OpenLedger, the sovereign data blockchain for AI, has successfully raised $8 million in a seed funding round led by Polychain Capital and Borderless Capital. Positioned as an AI-specific sovereign data blockchain, OpenLedger empowers developers with verified data to enhance the efficiency of AI models through its permissionless infrastructure for managing data throughout its lifecycle.
Joining Polychain Capital and Borderless Capital in this round are investors like Finality Capital, Hash3, HashKey Capital, STIX, TRGC, Mask Network, MH Ventures, WAGMI Ventures, and several angel investors including Sreeram Kannan (EigenLabs), Balaji Srinivasan, Sandeep Nailwal (Polygon), Kenny Li (Manta), Scott Moore (Gitcoin), Chainyoda, Vyas Krishnan (EigenLabs), Sebastien Borget (Sandbox), Trevor (Polymath), Aniket Jindal (Biconomy), Paul Taylor (Ex BlackRock), among others.
OpenLedger focuses on three pillars—computing, data, and algorithms—to advance AI capabilities. Recognizing that data quality is pivotal for AI model efficacy, OpenLedger addresses the current bottleneck in AI research by offering a fully permissionless and verifiable data-centric architecture. This platform accelerates AI development by ensuring high-quality, unmanipulated data flows securely from diverse sources, underpinned by EigenLayer’s economic security and decentralized node sets.
The AI industry has witnessed substantial growth, from $50 billion in 2023 to an estimated $184 billion in 2024, with projections exceeding $826 billion by 2030. Amidst this growth, centralized data infrastructure like Scale AI, despite its $14 billion valuation, faces challenges in maintaining data quality over time. OpenLedger’s permissionless data architecture aims to overcome these challenges, potentially expanding its market reach.
Leading the funding round, Polychain Capital and Borderless Capital foresee OpenLedger’s solution as pivotal for exponential adoption and new use cases at the intersection of Web3 and AI.
Sreeram Kannan, Founder of EigenLabs, expressed:
“To further support this initiative, OpenLedger plans to expand its team, scale operations, and launch its testnet by the beginning of Q4 2024.”
