Venice AI Raises $65 Million in Series A, Reaches $1 Billion Valuation
Summary
- Venice AI said it raised $65 million in Series A funding and was valued at $1 billion.
- The round was led by crypto venture capital firm Dragonfly Capital, with participation from Coinbase Ventures and North Island Ventures.
- Venice AI said it has already turned profitable, with 3 million active users, 1.7 million API calls per day on average and $70 million in annualized revenue.
Forecast Trend Report by Period
Privacy-focused artificial intelligence platform Venice AI has raised $65 million in a Series A funding round.
BlockBeats and other outlets reported on July 1 that Venice AI had completed the round, marking its first external fundraising. The company was valued at $1 billion in the financing.
Crypto venture capital firm Dragonfly Capital led the round. Coinbase Ventures and North Island Ventures also participated.
Venice AI offers a service that protects user privacy while providing access to more than 200 AI models. The platform has more than 3 million active users and handles about 1.7 million API calls a day on average.
Venice AI has already turned profitable. Its annualized revenue has surpassed $70 million.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul