QUICK BITE
- Redpill AI raises $5 million in funding to accelerate the development of decentralized AI solutions.
- Platform launches open LLM router network, allowing users to customize AI interactions across various models based on performance, cost, and efficiency.
- Within 30 days on Base, Redpill attracted over 1,000 users and 600 OpenAI accounts.
Redpill AI, a leading platform in decentralized AI technology, has raised $5 million in funding over two rounds. This funding will help speed up the development and launch of its advanced artificial intelligence (AI) solutions.
Previously called Cyphermod, which was an SDK for metaverse AI development, Redpill has rebranded to harness the combined power of AI and blockchain technology.
Redpill AI secured its initial funding in a pre-seed round led by Animoca Venture, a global leader in digital entertainment and blockchain, in Q1 2022. This was followed by a seed round in Q3 2022, spearheaded by Digital Finance Group (DFG), reflecting strong market confidence in Redpill’s innovative integration of AI and blockchain technologies.
Other notable investors across these rounds included Jsquare, Hypersphere, IOSG Ventures, Outlier Venture, PAKA, Sanctor Capital, TKX Capital, Gate.io Venture, LD Capital, Incuba Alpha, Math Wallet, and MEXC. Industry luminaries such as Gavin Wood, co-founder of Ethereum and Polkadot, and Derek Yoo, founder of Moonbeam, also participated.
Redpill aims to make top AI resources accessible to everyone through its open LLM router network, allowing easy integration across various AI models. Users can customize their AI interactions based on performance, cost, or efficiency, with Redpill directing them to the best LLMs. This reduces reliance on single providers, enhances privacy, and boosts system resilience.
Within 30 days of launching on Base, Redpill attracted over 1,000 users and integrated 600 OpenAI accounts. The platform plans to support more models and improve its reward system, gearing up for a full-scale launch in 2024 with further innovations in AI and blockchain integration.
The capital raised will enhance Redpill’s technological infrastructure and expand its global presence, keeping the platform at the forefront of decentralized technology.
