Venice Raises $65 Million Series A at a $1 Billion Valuation
Blog post from Venice
Venice is a private AI platform offering access to over 200 models for text, image, video, and audio, emphasizing user privacy by storing conversations on users' devices rather than on servers. Founded in 2024 by Erik Voorhees, it recently raised $65 million in a Series A funding round led by Dragonfly, with contributions from Coinbase Ventures and others, valuing the company at $1 billion. The funds aim to expand Venice's consumer app and API globally, enhancing its ability to provide unrestricted AI access without logging prompts or censoring user queries. With 3.5 million users and processing 1.3 trillion tokens monthly, Venice ensures privacy by avoiding data collection, allowing free speech, and preventing corporate or governmental data surveillance. The platform has rapidly grown, with significant user engagement and a strong token economy, highlighted by the burning of 33.7 million VVV tokens and reduced emissions, aligning with the rising demand.
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