Venice AI Raises $65 Million in Series A Funding, Valuation Reaches $1 Billion

CoinFeed, July 1 news, according to TechCrunch, the privacy-first AI platform Venice AI announced the completion of a $65 million Series A funding round, with a post-investment valuation of $1 billion, led by crypto venture capital firm Dragonfly, with participation from Coinbase Ventures and others. Venice AI, founded two years ago, provides access to over 200 open-source and closed-source models, claims to be 'uncensored', emphasizes client-side encryption and no data retention, currently has over 3 million monthly active users, approximately 1.7 million daily API calls, annualized revenue exceeding $70 million and has achieved profitability. The company plans to use this round of funds to purchase GPUs and build its own data centers to reduce reliance on rented GPUs and improve gross margins.