Cryptocurrency AI startup OpenLayer has completed a $5 million seed round financing, with participation from a16z CSX

ChainCatcher news, the encrypted AI startup OpenLayer has completed a $5 million seed round financing, with participation from a16z Crypto Startup Accelerator (CSX), Geometry, IOSG Ventures, Spartan Group, LongHash Ventures, and undisclosed angel investors from EigenLayer, AltLayer, Puffer Finance, and Sei Network.

The financing process began in June and concluded in August. This round of financing utilized a Simple Agreement for Future Equity (SAFE) structure. OpenLayer plans to launch its own token in the future. Currently, OpenLayer has 7 employees in the U.S. and plans to hire two more engineers.

OpenLayer acts as an AI data layer, allowing users to contribute and verify data through a Chrome extension and earn points. According to its website, application developers can access this user data with user consent, thereby protecting privacy. Use cases include training AI models, user targeting, and enhancing features.