Funding Round · ChatGPT · Dario Amodei · Sam Altman · Decrypt
Venice AI Valued at $1 Billion as Erik Voorhees Makes the Case for Private ChatGPT Rivals
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Venice AI has raised $65 million in its first outside funding round at a $1 billion valuation, founder Erik Voorhees announced Wednesday.
Key facts
- Venice AI has raised $65 million in its first outside funding round at a $1 billion valuation, founder Erik Voorhees announced Wednesday
- Venice AI native token ( VVV ) rose following the funding announcement and is currently trading at $13.74, up 11% over the last 24 hours, according to CoinGecko
- VVV emissions were also trimmed Wednesday to 3 million per year, which are awarded to token holders who stake their VVV to support the network
- Launched in May 2024, Venice AI is a privacy-focused alternative to mainstream AI chatbots that is designed to avoid storing users' conversations on centralized company servers
Summary
Founder Erik Voorhees said the company has surpassed 3 million users and become profitable. In a post on X, Voorhees—a cryptocurrency industry veteran who is best known as the founder of the ShapeShift exchange—said the funding validates Venice's mission to build a private, uncensored alternative to mainstream AI like ChatGPT. “This aversion to ubiquitous centralized surveillance and control is our philosophical foundation, and upon it Venice is growing rapidly,” Voorhees wrote.