- The substantial investment of $11 million led by Dragonfly, along with participation from other prominent investors, indicates a growing confidence in the potential of web3 AI platforms like MyShell.
- This demonstrates investors’ belief in the innovative approach of MyShell in revolutionizing AI creation and its ability to address the evolving needs of creators and users in the decentralized landscape.
The significant investment of $11 million led by Dragonfly and backed by a consortium of prominent investors underscores growing confidence in the potential of web3 AI platforms like MyShell. This infusion of capital not only validates MyShell’s innovative approach to AI creation but also signals broader investor interest in decentralized solutions that empower creators and users alike.
MyShell, a pioneering web3 AI platform aimed at empowering creators, has successfully concluded a pre-Series A funding round, raising $11 million with Dragonfly at the helm of the investment. Alongside Dragonfly, key participants in the funding round included Delphi Ventures, Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, OKX Ventures, and notable angel investors such as Balaji Srinivasan and Illia Polosukhin.
The round, initiated in November and finalized last month, marks a significant milestone for MyShell, following its earlier seed funding round structured with equity and token warrants, which valued the company at $57 million. MyShell’s innovative platform, launched in the previous year, revolutionizes AI creation by enabling creators to develop AI agents or bots tailored to meet the diverse needs of users.
With an extensive ecosystem boasting 50,000 creators and over 1 million registered users, MyShell offers an array of bots including OpenVoice for instant voice cloning, MeloTTS for multilingual text-to-speech capabilities, and Alice, an AI agent proficient in various tasks like thematic research and coding. Recognizing the surging demand for personalized AI experiences, Haseeb Qureshi, managing partner at Dragonfly, lauded MyShell’s decentralized approach, leveraging crypto and decentralization to empower users with control over the AI ecosystem.
MyShell’s future plans include introducing token rewards for creators and consumers, with points serving as a crucial element for a forthcoming token airdrop. Moreover, the platform is set to expand its multichain presence by launching its own customized Layer 2 solution later this year, underscoring its commitment to flexibility and innovation in the evolving landscape of AI and web3 technology.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
