Venice AI, a developer of a privacy-focused generative AI and decentralized model inference platform, has raised $65 million in a Series A round at a $1 billion valuation. The round was led by Dragonfly, with participation from Coinbase Ventures and North Island Ventures.
Founded by Erik Voorhees, Venice AI builds a consumer and enterprise AI platform designed to deliver private, permissionless language model interactions without storing user prompt histories or running centralized data-logging systems. The company said the new funding will be used to expand its core product engineering team, procure additional GPU compute resources, and accelerate development of enterprise-grade, zero-knowledge data security solutions.
