Quick take:
- The fundraising also attracted participation from Tagus Capital, DCG, OKX Ventures and Volt Capital among others.
- The fundraising was executed using a simple agreement for future equity.
- The reward criteria for each reward model are derived using machine learning and sponsored training tasks.
FLock a Web3 AI training firm has completed a $6 million seed round co-led by Lightspeed Faction and Tagus Capital. The fundraising also attracted participation from DCG, OKX Ventures, Inception Capital and Volt Capital among others.
The company plans to use the new capital to expand its team and launch its upgraded testnet and federated learning client.
FLock uses federated learning, an AI training mechanism powered by decentralised technology to ensure data privacy.
The latest fundraising brings the total raised to $8 million, FLock CEO Jiahao Sun told The Block. According to the announcement, the fundraising was executed using a simple agreement for future equity, leaving the current FLock board of directors unchanged.
FLock has created an open leaderboard to incentivise creativity and competition on its platform. According to Sun, his company leverages machine learning and sponsored training tasks to derive the reward criteria for each AI agent.
Commenting on the announcement, Sun said in a statement: “As we continue to grow and expand our platform, we are excited to witness the transformative impact of decentralized AI across various industries, from healthcare and finance to education and beyond.”
“We believe that the future of AI lies in the power of decentralized communities, and we are proud to be at the forefront of this revolution,” he added.
Explaining how FLock’s decentralised AI training platform works via a Medium post, FLock said it offers an end-to-end AI co-creation stack integrating decentralised federated learning on-chain.
This is part of the company’s strategy of democratising AI training, which it believes will halt user data collection, preserve privacy, and encourage widespread governance participation.
“Now, anyone can contribute knowledge and enrich AI models themselves. The result? Community-owned models built by the many, not just the few, with data contributors being fairly rewarded and far more use cases,” FLock co-founders wrote.
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