Spice AI, a Seattle, Washington-based company that delivers infrastructure for building intelligent apps on the Web3, announced that it raised $13.5 million in seed funding for its platform that enables developers to build data and AI-driven applications for the Web3.
The round was led by Madrona, with participation from Australia-based Blackbird Ventures, Basis Set Ventures, Alumni Ventures Blockchain Fund, Joe McCann’s new Asymmetric fund, Protocol Labs, IEX Fund, and other strategic angel investors, including Thomas Dohmke, CEO of GitHub, bringing Spice AI’s total funding to $14.5 million.
Spice AI is growing its team with engineers from Seattle, the Bay Area, Asia, and Australia, and it plans to expand access to chains like Polygon and Solana, as well as enable the sharing of intelligent datasets soon.
As part of the financing, Tim Porter from Madrona will join the Spice AI board along with Thomas Dohmke, CEO of GitHub.
Company: Spice AI, Inc.
Raised: $13.5M
Round: Seed Round
Funding Month: September 2022
Lead Investors: Madrona
Additional Investors: Blackbird Ventures, Basis Set Ventures, Alumni Ventures Blockchain Fund, Joe McCann’s new Asymmetric fund, Protocol Labs, IEX Fund, and Thomas Dohmke
Company Website: https://spice.ai/
Software Category: Application Platform
About the Company: Spice AI, founded in June 2021 by Microsoft and GitHub alumni Luke Kim and Phillip LeBlanc, develops technology to help developers build intelligent apps that learn and adapt. Spice AI is developing an application platform that combines the open-source Spice.ai decision engine with "ML-ready" data, allowing developers to create the next generation of AI-driven applications. The Spice AI platform (Spice.xyz), designed for applications and machine learning, is the quickest, easiest, and smartest way to leverage web3 data, which is currently in preview, to automate the task of adding blockchain data to applications. Spice AI manages the complexity of building and operating massive data and AI infrastructure, allowing teams to create the next generation of data-driven apps such as recommendations for NFT marketplaces; smart tax, auditing, and accounting systems, spam detection for wallet-to-wallet messaging, and payment fraud detection. Spice AI is based in Seattle, Washington.
Source: https://blog.spice.ai/spice-ai-has-raised-13-5m-in-seed-funding-to-help-developers-build-data-and-ai-driven-applications-2f5663be9807