An innovative startup, PIN AI, coming from Ethereum Core research, Google Brain, Stanford, MIT, and CMU, announces the raising of $10M in investment to create the world's first open-source Personal Intelligence Network.
Funding and Investors
PIN AI announced securing $10M in pre-seed funding to develop the world's first open-source Personal Intelligence Network (PIN). Among the project investors are a16z CSX, Hack VC, and notable investors, including Blockchain Builders Fund (Stanford Blockchain Accelerator), Illia Polosukhin (Founder, NEAR Protocol), Anagram/Lily Liu (President, SOL Foundation), Symbolic Capital (Co-Founder, Polygon), Evan Cheng (CEO, Mysten Labs/SUI), dcbuilder (Worldcoin Foundation), Foresight Ventures, Nomad Capital, Tim Shi (Co-Founder, Cresta), Ben Fisch (CEO, Espresso), Scott Moore (Co-Founder, Gitcoin), and others.
Technology and Company Mission
PIN AI's platform offers users the opportunity to control and monetize their data by utilizing AI models to perform tasks across various applications. This system ensures robust data privacy and challenges the profitable models of web giants. According to co-founder Davide Crapis, PIN AI aims to return more than $100 billion in profits, currently accumulated by tech giants from user data, back to the users.
Team and Collaborations
The PIN AI team is led by co-founders Davide Crapis and Ben Wu. Crapis was a lead researcher at Ethereum Core, while Wu is an MIT graduate and serial entrepreneur. Other key figures in the team include Bill Sun, a Stanford AI/Math PhD and early Google Brain researcher, and Regan Peng, a CMU graduate and former lead at Didi Fintech and Yahoo Data Infra. PIN AI also collaborates with a16z crypto research, Flashbots, Espresso Systems, and experts from Stanford, Columbia, and NYU to develop its platform.
The funding will allow for an expansion of the AI and blockchain expert team and accelerate the development of PIN AI's technology. The company has joined the a16z CSX Fall 2024 cohort in New York City.
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