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.
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