Decentralized Machine Learning Data Network Bagel Secures $3.1 Million in Pre-Seed Funding, Opens Doors to AI Advancement
In a monumental stride for the democratization of artificial intelligence (AI), Toronto-based Bagel Network has secured a substantial $3.1 million pre-seed funding. This strategic investment, led by prominent crypto venture firm CoinFund, marks a pivotal juncture in Bagel’s mission to construct the largest decentralized machine learning (ML) data network, bridging the gap between artificial and human intelligence.
Key Points:
- Bagel Network raises $3.1 million in pre-seed funding, spearheaded by CoinFund.
- Funding aims to expand Bagel’s decentralized AI database ecosystem and internal operations.
- Bagel envisions the largest decentralized ML data network, connecting AI and human intelligence.
- Network facilitates collaboration, trading, and licensing of datasets while upholding privacy.
Bagel’s Vision and Mission:
Bagel Network is a visionary platform that seeks to revolutionize the AI infrastructure landscape. It aims to unlock access to high-quality training data for smaller organizations through a decentralized Web3 data marketplace. This transformative platform enables ML engineers, researchers, and AI agents to seamlessly collaborate in constructing, trading, and licensing datasets with unwavering commitment to privacy preservation.
At the helm of this ambitious endeavor is Bagel CEO Bidhan Roy, a seasoned expert with over a decade of expertise in data and ML engineering gained from his tenure at Amazon and other tech giants. His vision is to unlock the vast potential of artificial general intelligence (AGI) while simultaneously preventing the formation of data monopolies.
Strategic Funding and Support:
The $3.1 million pre-seed funding round, led by CoinFund, represents a significant milestone for Bagel Network. This strategic investment will empower Bagel’s mission to reshape the AI infrastructure landscape by building the largest decentralized ML dataset.
The funding round also attracted participation from a consortium of renowned investors, including Protocol Labs, Borderless Capital, Maven11 Capital, Graph Paper Capital, and Breed VC. This collective support underscores the confidence in Bagel’s revolutionary approach to decentralized data management and its potential to revolutionize the AI industry.
Revolutionizing the Data Economy:
Bagel Network aims to transform the data economy by introducing incentivized and privacy-preserving mechanisms. This innovative approach will catalyze significant advancements in AI, bringing us closer to realizing the full societal promise of machine learning.
At the core of Bagel’s revolutionary approach lies a two-sided data marketplace that ensures verifiable data integrity while respecting privacy. This marketplace facilitates collaboration with privacy-focused autonomy, unlocking groundbreaking innovations in AI.
Unlocking the Potential of AGI:
Bagel’s mission extends beyond merely providing access to data; it seeks to unlock the untapped potential of AGI. By breaking down data silos and fostering collaboration among a diverse range of stakeholders, Bagel empowers the development of AGI systems capable of tackling complex real-world problems.
Conclusion:
Bagel Network’s $3.1 million pre-seed funding round marks a pivotal moment in the democratization of AI and the advancement of AGI. By creating a decentralized ML data network that connects artificial and human intelligence, Bagel opens up new possibilities for collaboration and innovation.
With the support of its strategic investors, Bagel is poised to revolutionize the AI infrastructure landscape and contribute to the development of AGI systems that can address some of society’s most pressing challenges.