Tokyo, Japan, March 27th, 2024
MyShell, a decentralized AI consumer layer, has successfully raised $11 million in a Pre-Series A round of funding. Dragonfly led the investment, which will be used to enhance MyShell's open-source models and agent platform to support AI creators.
This latest round attracted a group of notable investors, including Delphi Ventures, Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, and OKX Ventures, among others. Additionally, prominent angel investors like Balaji Srinivasan, Illia Polosukhin, Casey K. Caruso, and Santiago R. Santos also participated in the round, bringing MyShell's total funding to $16.6 million.
MyShell CEO Ethan Sun expressed confidence in the company's ability to transform the AI creator ecosystem with the new funding. The focus is not only on expanding operations but also on promoting a more open, collaborative, and democratic AI environment.
With over 1 million registered users and 50,000 creators, MyShell plans to allocate the funds to enhance its open-source foundational model, empower AI creators, develop an AI assets trading platform, and provide support to the open-source community. Unlike traditional AI companies like OpenAI, MyShell is dedicated to decentralization and open-source development, which has led to the success of projects such as OpenVoice, MeloTTS, and Allice on the platform.
Dragonfly Managing Partner Haseeb Qureshi highlighted MyShell's unique approach to personalized AI experiences, emphasizing the importance of putting control back into the hands of users. By leveraging crypto and decentralization, MyShell aims to create a collaborative environment for open-source creators to work together and innovate.
The funding secured by MyShell reflects its leading position in the AI consumer layer market, utilizing a revenue-share economic model within its open-value network. The company's innovative features, including the "Workshop" and "Makerspace," enable users to build AI agents through prompts and a no-code AI workflow builder for creators.
MyShell's commitment to democratizing AI creation and fostering a community based on openness and collaboration sets it apart in the industry. By championing decentralization and empowering creators, MyShell is not only developing tools but also cultivating an ecosystem where all voices can contribute to shaping the future of AI.
About MyShell
MyShell is an AI consumer layer that empowers users to build, share, and own AI agents. Its interactive AI app store integrates multiple open-source foundation models and offers a dynamic user experience.
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