The decentralized AI training platform, FLock, has completed a strategic financing round of 3 million USD, bringing the total amount of funding to 11 million USD

On December 19, the decentralized AI training platform FLock announced the completion of a $3 million strategic financing round, bringing its total funding to $11 million. This round was led by Digital Currency Group (DCG), the parent company of Grayscale, with follow-on investment from Lightspeed Faction and participation from strategic partners including Animoca Brands, Fenbushi Capital, GnosisVC, GSR Ventures, OKCoinJapan, Bas1s Ventures and A41. The funds will be used to further democratize AI model development and continue building a decentralized AI training platform.

FLock aims to use blockchain technology to address issues in traditional centralized AI systems such as lack of transparency, weak data privacy and unfair rewards for contributors. Through its decentralized collaboration model, data is always kept locally without needing to be uploaded to third parties. Contributors can fairly share profits derived from data contribution and computational power feedback which allows everyone an opportunity to participate in AI development.