VCs pour $750m into AI crypto race — here’s who’s winning – DL News
- AI-linked crypto projects are on a tear.
- But who are the winners from investors’ $750 million splurge in 2024?
Investors poured $750 million into artificial intelligence-linked crypto projects this year, according to PitchBook.
While that’s still some ways to the $1.78 billion injected into the industry in 2022, investors say the sector is rebounding.
“There will be a tonne of AI and crypto opportunities,” said Cosmo Jiang, portfolio manager at hedge fund Pantera Capital, which will invest north of $200 million into the intersection of AI and blockchain until 2030.
The buzz around AI and crypto is palpable and for good reason: Researchers estimate that the combo will add $20 trillion to the global economy by 2030.
AI-linked stocks like chipmaker Nvidia are on a tear, enabling the total value of AI tokens to catapult to $27.6 billion.
At the same time, market watchers expect raises and acquisitions in the overall crypto industryto grow this year.
Investments are a great litmus test for where investors expect the market to go next.
Here are the biggest AI-crypto winners.
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Exohood Labs
Raised: $112 million
Description: Developer of an AI-based blockchain
Investors: Livsquare Capital
Auradine
Raised: $80 million
Description: Developer of a web infrastructure platform intended to offer a broad range of infrastructure across hardware, software, and AI.
Investors: Celesta Capital, Marathon Digital Holdings, Maverick Capital, Mayfield Fund, MVP Ventures, StepStone Group, and Top Tier Capital Partners.
Zama
Raised: $73 million
Description: Developer of an open-source framework designed to help companies protect their users’ privacy.
Investors: Anatoly Yakovenko, Blockchange Ventures, Gavin Wood, Juan Batiz-Benet, Metaplanet Holdings, Multicoin Capital, Protocol Labs, Stake Capital, and VSquared Ventures.
TradeAlgo
Raised: $41.77 million
Description: Operator of a market research platform designed to help investors with trading education, technology, and tools.
Investors: N/A.
Passes
Raised: $40 million
Description: Developer of a content creation platform designed to enhance the creator experience and increase their revenue.
Investors: Abstract Ventures, Alexandra Botez, BOND Capital (San Francisco), CapitalX, Crossbeam Venture Partners, Emma Grede, Jens Grede, Michael Ovitz, and Ramtin Naimi.
Eric Johansson is DL News’ News Editor. Got a tip? Email at eric@dlnews.com.
