Polychain Capital has finalized a $25 million funding round for AI platform Ritual with a significant, though undisclosed, investment.
Ritual’s funding, initiated last November and led by Archetype alongside Accomplice and Robot Ventures, aims to decentralize AI systems amid growing concerns over a potential AI oligarchy by Big Tech companies like Microsoft, Meta, and Alphabet.
This move underscores the blockchain industry’s growing focus on leveraging AI, highlighted by the surge in AI-powered tools and their broadening appeal. Through its investment, Polychain contributes to efforts aimed at decentralizing data storage and infrastructure access, countering the centralized control feared to be established by leading tech giants.
Featured image: Ritual co-founder Niraj Pant. Credit: Ritual
