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Venice AI completed a $65 million Series A funding round at a $1 billion valuation, led by Dragonfly.
TechFlow message: On July 01, according to TechCrunch, Venice AI, a privacy-focused artificial intelligence platform, completed a $65 million Series A funding round with a valuation of $1 billion, becoming a unicorn company. The round was led by the crypto venture capital firm Dragonfly, with participation from Coinbase Ventures, North Island Ventures, and others.
Venice AI said the platform provides access to more than 200 artificial intelligence models and emphasizes user data privacy protection and a “low-censorship” experience. The company said it currently has more than 3 million active users, annualized revenue of more than $70 million, and has already achieved profitability.
The company plans to use the new funding to purchase graphics processing units and build its own data centers, reducing reliance on leased computing power and improving gross margin.