June 26, 2024
Ora, a blockchain initiative that integrates AI into decentralized applications (dapps), has announced that it has secured $20 million in investment from backers such as Polychain, HF0, and Hashkey Capital. The newly acquired funds will enable the project to persist in the advancement of its technology and infrastructure for the tokenization of AI models, thereby introducing decentralized AI to the Ethereum ecosystem.
Project | Latest Raise | Latest Raise Date | Category |
|---|---|---|---|
ORA | $20M | June 26, 2024 | AI |
Optimistic Machine Learning (opML) technology is the core engine driving their innovative product, opp/ai. This technology, using optimistic systems and zero-knowledge technology, is set to offer secure and efficient on-chain machine learning with features that preserve privacy.
ORA also introduces a concept known as the "initial model offering" or IMO. This allows for the tokenization of the ownership of open-source AI models.
Kartin Wong, one of the co-founders of Ora, expressed in the statement that this project has the potential to pave the way for the design space of AI decentralized applications (dapps).
About ORA
Ora is a verifiable oracle protocol that brings AI and complex compute on-chain. It provides developers with the necessary tools to build end-to-end trustless and decentralized applications powered by Artificial Intelligence.
Ora has two main products: AI Oracle (OAO) and ZK Oracle3. The AI Oracle brings AI on-chain, while the ZK Oracle brings complex compute and historical data on-chain. These products break down the limitations of smart contracts by providing richer data sources and compute, thereby enabling developers to innovate freely.
Website: https://www.ora.io/
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About Investor
This round was raised with investors including Polychain, HF0, and Hashkey Capital
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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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