OpenMind, a startup developing operating systems for humanoid robots, recently announced a new funding round. Several major venture capital firms, including Pantera, Blackdragon, and Pi Core Team, participated.
This announcement sparked debate among Pi investors and supporters.
Pioneers Question the Effectiveness of Pi Core Team’s Strategy
OpenMind is a Silicon Valley company that focuses on software for humanoid robots.
The announcement of a $20 million investment marked a rare occasion where the Pi Core Team (PCT) was publicly mentioned in an investment deal. PCT appeared alongside other high-profile VCs in the industry, such as Coinbase Ventures and Black Dragon Capital.
Some pioneers view this as a positive development. They believe that PCT’s involvement in advanced technology projects helps elevate Pi’s profile in the broader tech community. This engagement could also lead to long-term partnerships, which they believe would enhance the token’s future potential.
“It’s no surprise that strategic investments like these strengthen Pi credibility, ecosystem vision, and tech expansion. While these investments do not have an immediate impact on Pioneers’ earnings or token price, they lay a positive foundation for the future,” The Times of PiNetwork said.
Earlier this year, PiCoreTeam launched the Pi Network Ventures Fund. The fund holds $100 million and aims to grow the Pi ecosystem. It focuses on three goals: increasing real-world use cases for Pi, attracting production workflows to the network, and integrating Pi into practical applications.
However, some Pioneers feel this new investment strays from those goals. They question whether PCT’s investment in OpenMind fits into that strategy or is simply a personal preference of the leadership.
At the same time, the PI token is struggling. Its price is trending toward new lows in August, and it has shown no positive reaction to the news.
“I see this ‘BREAKING’ news as something alarming. The two on top of the Pi project took money from the Pi project and invested it into some of their personal preferences rather than investing into integrations, developers, and new projects on Pi.” — the Pinetwork Members account on X said.
In a rare public appearance last May, Dr. Nicolas Kokkalis, founder of Pi Network, spoke about the future of AI and blockchain. Additionally, PCT launched the Pi App Studio, which leverages AI to let users—regardless of technical skill—create apps such as games or chatbots simply by inputting prompts.
These developments suggest that PCT is increasingly engaging with and applying AI technologies.
Still, Pi holders eagerly await more practical and impactful actions that could quickly drive up the value of the Pi coin. The gap between Pioneers’ high expectations and PCT’s slow, deliberate steps continues to fuel debate.