CryptoGPT Raises $10 Million to Develop AI-Focused ZK Blockchain and Web3 AI Assistant “Alex”

• Blockchain Council
• April 11, 2023

In a move that is expected to shake up the Blockchain and AI landscape, CryptoGPT, the AI-focused Blockchain startup, has announced that it has raised $10 million in a Series A funding round at a valuation of $250 million. The company plans to use the funds to develop its groundbreaking zero-knowledge (ZK) Blockchain technology and to expand its web3 AI assistant, Alex, into new markets.

According to reports, the funding round was led by a group of prominent investors, including VC firm Sequoia Capital and Blockchain-focused investment firm Polychain Capital. The round also included participation from a number of strategic investors, including global payments company Visa.

The news has been welcomed by industry experts, who see CryptoGPT‘s technology as a potential game-changer in the world of Blockchain and AI. In particular, the company’s ZK Blockchain technology has been praised for its ability to provide users with enhanced security and privacy.

Commenting on the funding round, CryptoGPT CEO, Alexey Grishchenko, said: “We are thrilled to have secured this funding, which will allow us to accelerate the development of our ZK Blockchain and expand the reach of our Web3 AI assistant, Alex. With this investment, we are well-positioned to bring our cutting-edge technology to new markets and to help drive innovation in the Blockchain and AI sectors.”

The company has already made significant progress in the development of its ZK Blockchain technology, which uses advanced cryptographic techniques to allow for secure and private transactions. The technology has the potential to be used in a wide range of applications, including financial services, supply chain management, and data privacy.

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CryptoGPT’s Web3 AI assistant, Alex, is also expected to be a key part of the company’s growth strategy. The assistant uses machine learning algorithms to provide users with personalized recommendations and insights and can be integrated into a range of different applications.

The company’s focus on AI and Blockchain has attracted the attention of investors and industry experts alike. As Alexey Grishchenko noted, “AI and Blockchain are two of the most exciting and transformative technologies of our time, and we believe that by combining them, we can unlock new levels of innovation and opportunity.”

The funding round comes at a time of growing interest in both AI and Blockchain as companies and investors look for ways to leverage the power of these technologies to drive growth and innovation. With its focus on ZK Blockchain and AI-powered applications, CryptoGPT is well-positioned to be at the forefront of this trend.

As the company moves forward with its development plans, it is likely to face competition from other Blockchain startups and established players in the AI and technology sectors. However, with its innovative technology and strong investor backing, CryptoGPT is poised to make a significant impact in the years ahead.

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