Bagel Network – a decentralized Machine Learning data network at the intersection of AI and web3 –announced the successful closure of a $3.1 million pre-seed fundraising round. CoinFund led the funding round with participation from Protocol Labs, Borderless Capital, Maven11 Capital, Graph Paper Capital, and Breed VC.
With this raise, Bagel aims to redefine the landscape of AI infrastructure by establishing the largest machine-learning data network connecting all artificial and human intelligence. The funding will be used to bolster internal operations and further drive Bagel’s development of their data ecosystem.
There is currently a disproportionate amount of data owned and controlled by large entities, boxing out smaller organizations via accessibility to high-quality datasets or simply the compounding effect of scaled intelligence. And Bagel Network redefines the AI data landscape by creating a two-sided marketplace where machine learning engineers, researchers, and AI agents collaboratively build, trade, and license datasets.
The platform also offers a boundless data exchange, respecting privacy and uniting human and artificial intelligence. Autonomous AI agents engage trustlessly in this marketplace, significantly advancing the birth of self-developing Artificial General Intelligence. And Bagel Network prioritizes verifiable data integrity, ensuring responsible and expansive data evolution.
KEY QUOTES:
“At Bagel Network, we envision a future where high-quality, planet-scale machine learning data is trustlessly accessible to both humans and artificial intelligence. By transforming the data economy with incentivized, privacy-preserving mechanisms, we will catalyze significant advancements in AI.”
– Bidhan Roy, Founder & CEO of Bagel Network; Prior to Bagel, he worked as a project lead for Amazon’s Alexa machine learning team, and has more than a decade of experience as a software engineer for major tech companies.
“In the current landscape, the burgeoning field of artificial intelligence faces a critical challenge – the lack of a comprehensive infrastructure capable of offering access to the vast amounts of data required by AI systems in open, collaborative, and privacy-preserving ways. Bagel is one of the first companies combining web3 and AI and building a data domain for a world of open, decentralized innovation AI. We at CoinFund are extremely pleased and excited to back this revolutionary team.”
– Jake Brukhman, Founder and CEO of CoinFund
