GenLayer Team Closes $7.5M Seed Funding Round

The team behind the decentralized AI network GenLayer has raised $7.5 million in funding.

The seed funding round was led by North Island Ventures with participation from Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, BlockBuilders, Maelstrom, and private investors.

It is known that the new capital is planned to be used to create “the first intelligent blockchain (Intelligent Blockchain), which enables the use of smart contracts based on artificial intelligence.” According to the report, GenLayer will allow smart contracts to use the Internet “to make complex decisions.” The project team stated that its main goal is to launch a test network by the end of 2024.