Framework Ventures leads $3.5 million seed round for web3 AI firm Eidon

The web3 artificial intelligence firm Eidon AI raised $3.5 million in fresh seed financing. 

The crypto-focused investment firm Framework Ventures led the round, with additional support from Cayman Islands-based venture firm cyber.Fund. The seed round comprises Eidon's total funding to date, the company's co-founder Sam Padilla told The Block in an email. 

Eidon incentivizes users to offer up data that will train AI models. Users can submit new data, such as fine hand motions or object interactions, and others can audit the authenticity of the data through its forthcoming blockchain. The firm intends to use the seed financing to primarily grow out its team.

"This funding enabled us to lay the foundation of what we hope Eidon will become, starting with data," Padilla said. "But the end goal is a fully integrated decentralized AI network — far beyond just data. We want to build an unbreakable chain of contributions for the creation of AI models; where people can contribute data, compute, storage, code, models and much more. All the value generated by the models created in the network trickling back to all contributors."

Along with the funding announcement, Eidon's first version of its network went live on Nov. 12. The network holds the platform's apps for data assessment and collection, as well as an open sequencer that enables record keeping.