Michael’s decentralized AI consumer layer raises $11 million
Tokyo, Japan, March 27, 2024, Chainwire
A round led by Dragonfly from pre-series funds will further develop MyShell's open source models and agent platform to empower AI developers.
Michael, a decentralized AI consumer layer, announced today that it has raised $11 million in a pre-series round. Nomadic Capital, OKX Ventures, etc.
Prominent angel investors such as former Coinbase CTO Balaji Srinivasan, Protocol co-founder Ilya Polosukin, former Paradigm Investment partner Casey K. Caruso and former Parafi partner Santiago R. Santos also joined the round, boosting MyShell's total amount. Day 16.6 million dollars.
“MyShell is poised to transform the AI creator ecosystem,” said Ethan Sun, CEO of MyShell. “With this new funding, we're not only advancing our work, but also strengthening the movement toward an open, collaborative, and democratic AI landscape.”
MyShell is an AI consumer layer that allows users to build, share, and own AI agents, home to over 1 million registered users and 50,000 creators. The company plans to add new sources of funding to develop its open source foundation model. Empowering AI innovators; AI assets trading platform; And further support the open source community.
Unlike most major AI companies like OpenAI, Michel is committed to decentralized and open source development. This focus has facilitated the development of several successful projects on the platform, including OpenVoice, which has received over 15,000 stars on Github. MeloTTS, a pioneering open source text-to-speech solution that closely mimics the human voice and supports a wide range of languages and dialects; and Alice, an open source agent framework for complex AI development workflows.
“Demand for personalized AI experiences has grown exponentially in the past year, but now most of those experiences are guided by gatekeepers,” said Haseeb Qureshi, managing partner at Dragonfly.
“MyShell uses crypto and decentralization to put power back in the hands of users in the AI ecosystem, and allows open source developers and communities to work together to create magical experiences and capture the fruits of their labor. There's a lot of hype at the intersection of crypto and AI right now, but Ethan and Michelle have the technical chops with a research background that enables the team to execute their vision.
The fund highlights MyShell's position as a pioneer in AI consumer coverage, an open value network that deploys a revenue-sharing economic model. MyShell offers unique toolset features such as “Workshop” where users can build AI agents with queries and “Makerspace”, a no-code AI workflow builder for creators.
The investment allows Michel to strengthen his commitment to lowering the barriers to AI creation, fostering a community where transparency and collaboration are essential. By encouraging decentralization and supporting the creative economy, Michele doesn't just build tools; It's nurturing an ecosystem where every vote has the power to shape the AI landscape.
About Michelle
MyShell is an AI consumer layer that allows users to build, share, and own AI agents. The feature includes an interactive AI application repository that builds on multiple open source foundation models and integrates other models into a robust model hub, providing a dynamic and engaging user experience.
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Co-founder Ethan Sunmeichel[email protected]
