Jump Crypto co-leads $7.5 million seed round for web3 AI firm Raiinmaker
Quick Take
- Jump Crypto and Cypher Capital co-led a $7.5 million seed round for the web3 AI firm Raiinmaker.
- Other participants in the round included Gate.io Labs, MEXC Global, Krypital Group, Alphabit, Launchpool, New Tribe Capital and others.
- Raiinmaker lets users train AI from their smartphones and receive rewards.
The web3 artificial intelligence firm Raiinmaker raised $7.5 million in seed funding, bringing the firm's total funding to $10 million.
The venture firms Jump Crypto and Cypher Capital co-led the round, which saw additional support from Gate.io Labs, MEXC Global, Krypital Group, Alphabit, Launchpool, New Tribe Capital, Coach K, Axia 8 Ventures, Sheesha Finance, Andromeda Capital, Arcanum Capital, GDA Capital, Alpha Sigma Capital and others.
Raiinmaker is building decentralized AI tools and web3 infrastructure to undergird sports, gaming and entertainment projects, according to a company release. Users can train AI from their iOS or Android phones, receiving rewards proportional to their impact on the AI models.
"There’s a perfect confluence of events occurring right now with the collision of decentralized AI, performant blockchain infrastructure and the crypto market bull run," Raiinmaker Founder and CEO J.D. Seraphine told The Block. "Our team has been building for years to get here and we are excited that our moment has finally arrived."
Raiinmaker intends to launch its mainnet in April 2024. Seraphine added that the launch of its native token COIIN will occur shortly after.
Correction: April 8, 2024, 16:24 UTC: Jump Crypto, a division of Jump Trading, led the round, not Jump Trading's venture arm, Jump Capital, as previously reported.
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