October 16, 2024
Canyon Network, an Onchain AI Oracle providing verifiable AI capabilities for decentralized applications (dApps), has successfully completed a $6 million private funding round, valuing the company at $60 million. The funding round was supported by DeData Technologies, DAO Venture, Vinci Labs, and Fission Digital Capital.
Project | Latest Raise | Latest Raise Date | Stage | Category |
|---|---|---|---|---|
Canyon Network | $6M | October 16, 2024 | Private Funding Round | AI |
This investment will enable Canyon Network to continue its innovation efforts, ensuring that dApps can thrive with verifiable AI. In an increasingly automated world, Canyon Network emphasizes transparency and security, upholding these principles as essential for the responsible deployment of AI in blockchain ecosystems.
About Canyon Network
Canyon Network is an Onchain AI Oracle designed to provide verifiable AI capabilities for decentralized applications (dApps). By leveraging advanced cryptographic technologies like Trusted Execution Environments (TEE), Optimistic Machine Learning (opML), and Zero-Knowledge Machine Learning (zkML), Canyon ensures transparency, security, and efficiency in AI-powered blockchain applications. This platform aims to eliminate trust assumptions and enhance the development and performance of dApps, making it a crucial tool for integrating AI with blockchain technology.
Website: https://canyon.io/
About Investor
The funding round was supported by DeData Technologies, DAO Venture, Vinci Labs, and Fission Digital Capital.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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