Fetch.ai, a Cambridge, UK-based startup that helps companies build and deploy autonomous smart agents, secured $40 million in funding from Singapore’s DWF Labs, a technology incubator.
With the funding, Fetch.ai plans to create services that leverage generative AI to convert application results into transactions.
Humayun Sheikh says, “We are excited to partner with DWF Labs to accelerate the development and deployment of autonomous agents, network infrastructure, and decentralised machine learning on the Fetch.ai platform.”
“This investment will help us advance our mission to bring automation and AI capabilities to the forefront of the decentralised technology industry.”
Fetch.ai is a startup that focuses on AI and blockchain technology. The startup’s technology has the potential to improve efficiency in multiple sectors including energy distribution, transportation, and supply chain management.
The company’s decentralized solutions offer cost-effective and efficient alternatives to current centralized systems. Additionally, the startup emphasizes IP and technology development, with patent applications and patents issued in both the US and Europe.
Fetch.ai’s objective is to develop a machine-to-machine ecosystem that allows developers to deploy and monetize applications using generative AI to personalize results and simplify processes.
With this partnership, DWF Labs and Fetch.ai will develop new synergies in the decentralized technology sector that will advance the creation of independent agents and AI powers.
Company: Fetch.AI Limited
Raised: $40.0M
Round: Unknown
Funding Month: March 2023
Lead Investors: DWF Labs
Additional Investors:
Company Website: https://fetch.ai/
Software Category: Autonomous Agents
About the Company: Founded in 2017 by Humayun Sheikh, Fetch.ai is a next-generation protocol that enables a digital world where autonomous economic agents can perform a proactive economic activity. Fetch.ai powers peer-to-peer applications with automation and AI capabilities and offers developers all the tools they need to create, launch, and make money off of their platforms and apps. The agents of Fetch.ai operate as a network of independent individuals in an autonomous machine-to-machine ecosystem and communicate with one another directly over the blockchain network.
Source: https://nftevening.com/fetch-ais-40m-funding-to-accelerate-ai-blockchain-integration/ https://siliconcanals.com/crowdfunding/fetch-ai-raises-36-6m/