Artificial intelligence firm Sapien AI recently announced a successful seed funding round, raising $5 million with support from Primitive Ventures, Animoca Ventures, Ravikant Capital, and Yield Guild Games. This injection of capital will enable Sapien to enhance its mission of offering scalable annotation services for training AI models through its gamified data labelling platform.
According to Trevor Koverko, co-founder of Sapien, the funding will be utilized to grow the company’s team, improve its frontend labelling infrastructure, and deliver higher-quality data to its expanding base of enterprise clients. With headquarters in San Francisco and establishment in 2023, Sapien assists organizations in creating AI models by introducing gamification into the data labelling process, combined with blockchain-based rewards. The firm caters to customers across various sectors such as healthcare, web3, education, and prominent LLMs.
James Ho, Head of Animoca Ventures, commended Sapien AI for its ground-breaking approach to data labelling which integrates advanced technology with human expertise, distinguishing them from others in the industry. Ho expressed his belief in Sapien’s market understanding and dedication to customer satisfaction, showcasing them as an ideal partner for companies seeking top-notch data for training AI models. The backing from Animoca Ventures reflects their excitement to see Sapien’s continued growth and positive impact within the AI domain.
The investment landscape in sectors like Web3, gaming, AI, and crypto has witnessed a significant upturn in the first quarter of 2024, putting an end to a two-year decline. Studies conducted by crypto analysis platform Crypto Koryo, as cited by Ruholamin Haqshanas of Cryptonews, reveal a substantial rise in both the total investment amount and the number of projects securing VC funding compared to Q4 2023. The data further showcases a noteworthy 38% surge in funding during the quarter, pointing towards a restored confidence among investors in the crypto industry.
Sapien AI’s recent funding success not only fortifies its position in the market but also signifies a broader trend of resurgence in investment interest within the AI and crypto sectors. As the company continues to innovate and collaborate with industry leaders, its gamified approach to data labelling promises to redefine the standards of interaction between humans and AI, paving the way for exciting advancements in the field of artificial intelligence.
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