Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Friday, August 8
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » MyShell Raises $11M to Challenge OpenAI with a Democratic AI Vision
Investment & Funding

MyShell Raises $11M to Challenge OpenAI with a Democratic AI Vision

“The demand for personalized AI experiences has grown explosively in the last year, but right now, most of those experiences are centralized with gatekeepers,” states Dragonfly Managing Partner, Haseeb Qureshi.
Ravi KumarBy Ravi KumarMarch 27, 2024Updated:March 27, 2024No Comments3 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
MyShell Raises $11 Million in Pre-Series A Funding for its Decentralized AI Creator Platform
MyShell Raises $11 Million in Pre-Series A Funding for its Decentralized AI Creator Platform. Photo: MyShell CEO Ethan Sun.
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

Key Takeaways

  • MyShell has raised $11 Million in pre-series a funding round led by Dragonfly for its decentralized AI platform.
  • Unlike dominant AI entities like OpenAI, MyShell aims to build ‘a more open, collaborative, and democratic AI landscape’.
  • This approach has led to the success of various projects on the platform, such as OpenVoice, MeloTTS, and Allice.

Decentralized AI creator platform MyShell has raised US$11 million in a Pre-Series A funding round, bringing its total raised funds to $16.6 million.

The investment round saw participation from a variety of high-profile investors, including Dragonfly, Delphi Ventures, Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, and OKX Ventures. Additionally, several notable angel investors like Balaji Srinivasan (former Coinbase CTO), Illia Polosukhin (Co-Founder of NEAR Protocol), Casey K. Caruso (former Paradigm Investment Partner), and Santiago R. Santos (ex-Parafi partner) also contributed to this round of funding.

Ethan Sun, CEO of MyShell, mentioned that the new funding will significantly aid in revolutionizing the AI creator ecosystem. The goal is to foster a more open, collaborative, and democratic landscape in AI development.

MyShell aims to use this investment to scale its operations and further its mission towards creating a community-driven AI ecosystem.

MyShell is distinguished by its AI creator ecosystem that includes toolkits and incubation programs designed to simplify the app-building process for creators.

With over 1 million registered users and 50,000 creators, the platform plans to allocate the newly acquired funds towards the development of its open-source foundational model, empowering AI creators, promoting a democratic AI creator platform, and supporting the open-source community.

Unlike dominant AI entities like OpenAI, MyShell emphasizes decentralization and open-source development.

This approach has led to the success of various projects on the platform, such as OpenVoice, MeloTTS, and Allice. These projects underscore MyShell’s commitment to offering innovative and accessible AI solutions, with OpenVoice gaining nearly 20,000 stars on Github, MeloTTS being a groundbreaking text-to-speech solution, and Allice serving as the foundational model for AI-App development workflows.

Haseeb Qureshi, Managing Partner at Dragonfly, highlighted the growing demand for personalized AI experiences and praised MyShell’s use of cryptocurrency and decentralization to empower users and creators within the AI ecosystem.

Qureshi emphasized that the technical expertise and research background of the MyShell team position them well to execute their vision, amidst the current hype at the intersection of crypto and AI.

The investment in MyShell underscores its pioneering role in the AI creator platform space with its open-value network and revenue-share economic model.

The platform’s unique features, such as the “Workshop” for building AI agents and “Makerspace” for no-code app development, further MyShell’s mission to democratize AI creation. This approach not only promotes innovation and collaboration but also nurtures an ecosystem where every participant has the opportunity to influence the AI landscape.

Read Also: How AI and Blockchain Forge a Secure and Intelligent Future?

Decentralized AI Ethan Sun MyShell OpenAI
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
Ravi Kumar
  • X (Twitter)
  • LinkedIn

Ravi is Founder and Chief Content Officer of AlexaBlockchain. He writes about everything at the cross-section of blockchain, crypto, AI, markets, and the economy. Ravi can be reached at ravi@alexablockchain.com

More AlexaBlockchain

MANTRA Secures $20M from Inveniam to Scale Private RWA Tokenization

August 5, 2025

Amber Group Leads $10M Investment in GAIB to Accelerate Tokenized AI Compute Economy

July 29, 2025

Dakota Raises $12.5M Series A Led by CoinFund

July 15, 2025

Veda Raises $18M to Scale Its Vault Infra

June 23, 2025

VOYA Games Raises $5M Co-led by 1kx, Makers Fund

May 21, 2025

Animoca Brands Invests in Astar to Boost Sony’s Web3 Entertainment Push

May 21, 2025
Add A Comment

Comments are closed.

Don't Miss

Shardeum Revives ‘Proof of Keys’ Movement With Self-Custody Airdrop Program

MANTRA Secures $20M from Inveniam to Scale Private RWA Tokenization

Star System Labs Launches Nebula Miner, The First Permissionless Meme Coin Mining Protocol

RWA Inc. Launches the First Fully On Chain Private Investor Platform

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.