Vana Price Rises 25% After YZi Labs Invested with Binance's CZ as Advisor
Vana crypto/AI firm received an undisclosed investment from YZi Labs, previously Binance Labs.
Changpeng Zhao joined YZi Labs lately.
Vana, a crypto/AI company focusing on data ownership, received YZi Labs funding. It was unclear how much was invested. Vana will have Binance co-founder CZ as an adviser.
The news sent VANA price up over 25% today.
Vana Investment by YZi Labs January 2025 closure
Vana co-founder Anna Kazaluszkas claimed YZi Labs was the lone investor in the venture last month.
No specifics on the post-investment valuation round structure exist.
Today, VANA token price rose.
Over 25% Gain for VANA
This essay is written when VANA is trading at $7.78, up 25% today. Coin market cap exceeds $234 million.
VANA's price rose 16% after the announcement, reaching $8.1 and a market valuation of almost $244 million.
YZi Labs, Paradigm, Coinbase Ventures, and Polychain Capital have invested in Vana.
What's Vana?
Vana, a San Francisco-based crypto/AI firm created in 2021 by Kazlauskas and Arthur “Art” Abal, met in an MIT class and want to advance AI and enable worldwide user engagement in future digital economies.
Next for Vana?
Vana aims to do the following after this fundraising round:
Expanding DataDAO ecosystem
Helping over 16 DATADAOs create data tokens
Recruit additional data contributors
Join additional DataDAOs
Expand data financialization beyond crypto in banking, social media, healthcare, and transportation.
Vana: YZi Labs' First AI Investment Since Rebranding
Vana is YZi Labs' first AI investment following its January rebranding from Binance Labs. Before the renaming, the business supported MyShell and Sahara AI.
After Web3, the company focused on AI and biotech. A YZi Labs spokeswoman stated the company is willing to investing in solo AI and biotech initiatives to cover all innovation bases.
Binance's CZ advises YZi Labs portfolio firms and seems to be receptive to early-stage startups.
#YZi #Vana #CZ $VANA