In a significant development for the artificial intelligence (AI) community, Bagel Network proudly announced the successful closure of a US$3.1 million pre-seed fundraise round. Led by CoinFund, the round saw participation from renowned entities such as Protocol Labs, Borderless Capital, Maven11 Capital, Graph Paper Capital, and Breed VC.
Bagel Network, founded in 2023 by CEO Bidhan Roy, aims to redefine the AI data landscape by establishing the largest Machine Learning data network connecting all facets of artificial and human intelligence. The funds raised will be utilized to enhance internal operations and propel the development of Bagel’s ambitious data ecosystem.
The current AI landscape grapples with a disproportionate distribution of data ownership, often favoring larger entities and hindering smaller organizations’ access to high-quality datasets. Bagel Network addresses this challenge by creating a two-sided marketplace that empowers machine learning engineers, researchers, and AI agents to collaboratively build, trade, and license datasets.
The platform introduces a boundless data exchange, emphasizing privacy and fostering collaboration between human and artificial intelligence. In a groundbreaking move towards the development of self-evolving Artificial General Intelligence, autonomous AI agents engage in this marketplace with trustless interactions. Bagel Network places a premium on verifiable data integrity, ensuring responsible and expansive data evolution.
Bidhan Roy, founder and CEO of Bagel Network, shared his vision for the future, stating, “At Bagel Network, we envision a future where high-quality, planet-scale machine learning data is trustlessly accessible to both humans and artificial intelligence. By transforming the data economy with incentivized, privacy-preserving mechanisms, we will catalyze significant advancements in AI.”
CoinFund founder and CEO Jake Brukhman expressed his excitement for Bagel Network, emphasizing the crucial role it plays in addressing the challenges faced by the AI community. “Bagel is one of the first companies combining web3 and AI and building a data domain for a world of open, decentralized innovation AI. We at CoinFund are extremely pleased and excited to back this revolutionary team,” said Brukhman.
The $3.1 million pre-seed round reflects Bagel Network’s commitment to enhancing its capabilities in response to the rapidly changing technological landscape. This investment ensures the development of a robust and cutting-edge platform capable of meeting the evolving needs of the AI ecosystem.
About Bagel Network:
Founded in 2023 by CEO Bidhan Roy, Bagel Network redefines the AI data landscape by creating a two-sided marketplace where machine learning engineers, researchers, and AI agents collaboratively build, trade, and license datasets. The platform offers a boundless data exchange, respecting privacy and uniting human and artificial intelligence. Bagel Network prioritizes verifiable data integrity, ensuring responsible and expansive data evolution.
