CryptoGPT, a Zero-knowledge (ZK) layer 2 blockchain, raised $10 million in Series A funding at a $250 million valuation.
The round was led by market maker DWF Labs – which has emerged as one of the most active investors during the crypto bear market.
CryptoGPT plans to use the funding to expand its platform and grow its team.
With this funding, CryptoGPT aims to accelerate its growth and develop cutting-edge technology to help businesses thrive in the digital age.
CryptoGPT provides AI-focused blockchain software to help businesses optimize their operations and improve their security. The platform uses machine learning algorithms to analyze and predict market trends and detect and prevent fraudulent activity.
The startup recently rolled out Web3-focused AI assistant "Alex" and is developing its ZK rollup layer 2 blockchain and a data-to-AI engine, which collects, encrypts, and transfers data for commercial applications.
"Instead of applying ZK technology to payments, CryptoGPT integrates it for private data transfers," CryptoGPT said in the statement on Monday. The proceeds of the new funding will be used to grow its developer team globally and build on its regional presence in the Asian markets, said Dejan Erja, co-founder and chief technology officer of the AI-focused blockchain.
CryptoGPT's goal is to help businesses stay ahead of the curve in the rapidly-evolving world of blockchain technology and to help them secure their data and assets against cyber threats.
Raised: $10 million
Round: Series A
Lead Investors: DWF Labs
Company Website: https://www.cryptogpt.org/
Software Category: AI-focused blockchain software
About the Company: CryptoGPT is an AI-focused blockchain software development company that aims to build intelligent and innovative solutions for businesses to optimize their operations and improve their security. The company combines blockchain technology with artificial intelligence (AI) to provide advanced data analytics, predictive modeling, and risk management solutions. CryptoGPT's platform enables businesses to streamline their operations, reduce costs, and increase efficiency through AI algorithms that analyze and predict market trends, detect fraud, and prevent cyberattacks. The company's solutions are designed to help businesses stay ahead of the curve in the rapidly-evolving world of blockchain technology.