Total amount raised
$75.9 Millions
Latest funding date
08/01/2024
Location
Fetch.AI has successfully raised funds through multiple rounds, with its latest being a Series B round. The platform focuses on enabling the Agentic Economy through AI and blockchain technologies.
Keep reading to explore the intricacies of Fetch.AI's fundraising journey and the investors backing this innovative platform.
What Is Fetch.AI?
Fetch.AI, founded in 2017, is based in Cambridge, Cambridgeshire, United Kingdom. The company was established by Humayun Sheikh, Thomas Hain, and Toby Simpson. It operates in industries such as Artificial Intelligence (AI), blockchain, cryptocurrency, internet, machine learning, and software.
With an employee count ranging from 11 to 50, Fetch.AI focuses on developing a decentralized network for digital representatives to find, communicate, and trade with each other. The platform aims to create an economic Internet where autonomous agents can work without human interaction to solve complex problems.
How Much Funding Has Fetch.AI Raised?
- Seed Round
- Amount Raised: $15M
- Date: June 2018
- Lead Investors: Outlier Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their decentralized network and AI-driven products.
- Initial Coin Offering
- Amount Raised: $6M
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the initial launch and distribution of their cryptocurrency.
- Venture Round
- Amount Raised: $5M
- Date: March 2021
- Lead Investors: GDA Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their AI and blockchain capabilities.
- Venture Round
- Amount Raised: €36.7M
- Date: March 2023
- Lead Investors: DWF Labs
- Valuation at Round: $250M
- Motivation Behind the Round: To deploy decentralized machine learning, autonomous agents, and network infrastructure.
- Corporate Round
- Amount Raised: €9.1M
- Date: April 2023
- Lead Investors: Bitget
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their platform and expand their market reach.
- Funding Round
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue the development and scaling of their AI-driven solutions.
- Series B
- Amount Raised: Not publicly disclosed
- Date: August 2024
- Lead Investors: Bossa Invest, Cynegetic Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their decentralized network and expand their suite of AI-driven products and services.
Total Amount Raised: $62.7M
Current Valuation: $250M
Key Investors
- DWF Labs
- Details: DWF Labs is a market maker and investment firm actively involved in building developer communities around the projects it invests in. They have committed to supporting Fetch.AI over the next 12 to 24 months.
- Investment Focus Areas: Market making, crypto, blockchain
- Notable Investments: World Liberty Financial (WLFI) Tokens, Near Protocol
- Bitget
- Details: Bitget is a leading cryptocurrency exchange platform known for its innovative trading solutions. They have invested in Fetch.AI to enhance the platform and expand its market reach.
- Investment Focus Areas: Cryptocurrency, blockchain, fintech
- Notable Investments: Not publicly disclosed
- GDA Group
- Details: GDA Group is a global digital asset firm that provides a range of services including capital markets, trading, and advisory. They have invested in Fetch.AI to expand its AI and blockchain capabilities.
- Investment Focus Areas: Digital assets, blockchain, AI
- Notable Investments: Not publicly disclosed
- Outlier Ventures
- Details: Outlier Ventures is a venture capital firm that focuses on investing in blockchain and Web 3.0 technologies. They were the lead investors in Fetch.AI's seed round.
- Investment Focus Areas: Blockchain, Web 3.0, AI
- Notable Investments: Ocean Protocol, Haja Networks, SEED
- Bossa Invest
- Details: Bossa Invest is listed as an investor in Fetch.AI. Specific details about the firm are not provided.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Fetch.AI?
Fetch.AI stands at the cusp of significant opportunities, driven by its recent $40 million funding from DWF Labs. This investment will enable the deployment of decentralized machine learning and autonomous agents, creating a robust machine-to-machine ecosystem. The platform's focus on automation and AI capabilities positions it well to capitalize on the growing interest in AI-driven tools and applications.
Future fundraising opportunities appear promising as Fetch.AI continues to develop its technology and build a developer community, particularly in Asia. The platform's valuation at $250 million and the rising market cap of its native token, FET, indicate strong financial backing and potential for further investments.
However, challenges such as regulatory hurdles, competition from other AI and blockchain projects, and the need to continuously innovate could pose obstacles. Addressing these challenges will be crucial for Fetch.AI to maintain its growth trajectory and achieve its ambitious goals.
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