Kaito AI Announcing $5.3 Million Fundraising To Develop AI-powered Search Engine For Crypto

Key Points:

• Kaito AI, an AI-powered cryptocurrency search engine, raised $5.3 million in a round led by Dragonfly Capital.
• Eventually, the site will launch a token-based community, similar to Wikipedia, where users can contribute to the platform through a tiered structure.

Kaito AI, an AI-powered search engine for cryptocurrencies, raised $5.3 million in a seed round headed by Dragonfly Capital, according to TechCrunch.

Dragonfly Capital is spearheading a $5.3 million fundraising for Kaito AI, which is developing an AI-powered search engine for the cryptocurrency business. Since December, the product has been in private beta with institutional clients, and the investment business claims it is “revolutionizing” the way they invest.

There’s constantly people fighting against information overload,” Yu Hu, founder and CEO of Kaito, said. “We are shortening the path to finding answers from 30 minutes or an hour into 10 seconds.

Participants in the round include Sequoia Capital, Jane Street, Mirana Ventures, Folius Ventures, and Alpha Lab Capital, among others. The capital will be used to scale the team and accelerate the development of the product, Hu shared. “We’re talking with OpenAI, Binance, and Dragonfly for our next round,” he said.

Kaito’s MetaSearch seeks to address this issue by providing a one-click offering that allows customers to search throughout the whole social crypto environment via platforms such as Twitter, Discord, governance forums, Mirror, Medium, podcast transcripts, and research, to mention a few.

Kaito uses AI to optimize its search engine through ranking, topic mining, personalization, recommendation, speech-to-text transcription, and AI-generated content, in addition to gathering information. It is also integrating ChatGPT/GPT-3 to provide crypto consumers with an additional search experience.

Eventually, the site will launch a token-based community, similar to Wikipedia, where users can contribute to the platform through a tiered structure.

Users will need to level up and work their way up in the rank to contribute to the data knowledge.Today will be a vertical search engine serving the crypto users because they all need one that’s tailor-made for the community.

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