Sapien AI, an artificial intelligence company, has successfully secured $5 million in a seed funding round. The investment comes from a consortium including Primitive Ventures, Animoca Ventures, Ravikant Capital, and Yield Guild Games.
The company disclosed that the funding infusion will fuel its endeavor to advance scalable annotation services for AI model training via its gamified data labeling platform.
Trevor Koverko, Sapien’s co-founder, expressed in a press release, “This financial backing will enable us to bolster our team, enhance our frontend labeling infrastructure, and deliver superior quality data to our expanding roster of corporate clients.”
Sapien Trains AI Models With Data
Headquartered in San Francisco and established in 2023, Sapien is dedicated to aiding companies in AI model development by revolutionizing the data labeling process through gamification and blockchain-based incentives.
With a clientele spanning various sectors such as healthcare, web3, education, and prominent LLMs (Large Language Models), the company’s platform has garnered significant traction in the AI data industry. The latest injection of funds will be channeled towards advancing and open-sourcing its gamified labeling infrastructure, while maintaining its commitment to reshaping the collaboration between humans and AI.
According to James Ho, Head of Animoca Ventures, “Sapien’s innovative fusion of cutting-edge technology with human expertise distinguishes them within the industry.” He further added, “We believe in the team’s profound comprehension of the market and their dedication to ensuring customer success, positioning them as an optimal partner for enterprises seeking to optimize their AI models with top-tier data. We are enthusiastic about supporting Sapien as they continue to expand and make substantial strides in the AI domain.”
VC Funding Surges 2024
Venture capital funding within the Web3, gaming, AI, and crypto sectors has witnessed a notable surge in the first quarter of 2024, effectively reversing a downward trend observed over the past two years. According to insights compiled by crypto analysis platform Crypto Koryo, as reported by Ruholamin Haqshanas from Cryptonews, both the total investment volume and the count of projects securing VC backing have experienced substantial upticks compared to Q4 of 2023.
The data reveals a significant 38% increase in capital deployed during the quarter, signaling a revitalized investor confidence in the crypto landscape. Additionally, there has been a remarkable 49% surge in the number of projects receiving funding, reaching levels not seen since the final quarter of 2021.
