Raiinmaker Raises $7.5 Million for Mobile AI Training

Raiinmaker, a Web3 infrastructure platform, secured $7.5 million in funding led by Jump Capital and Cypher Capital.

Jump Capital and Cypher Capital co-led a $7.5 million investment round for Raiinmaker, a Web3 infrastructure platform that provides AI training tools through iOS and Android phones. Launchpool, MEXC Global, Krypital Group, New Tribe Capital, and Gate.io Labs were among the other participants in the seed round.

After announcing a $5 million fundraiser in October 2021, Raiinmaker has reportedly raised $12.5 million. This information is sourced from CrunchBase. 

Users can train AI agents and earn incentives on mobile phones using the company’s decentralized AI training tools. Their accounts receive benefits commensurate with their influence on AI models.

It is intended that Raiinmaker’s mainnet launch would occur in April; therefore, this news was made just before then. Not long after that, the business will also release COIIN, its native token. 

According to Raiinmaker CEO and founder J.D. Seraphine, who spoke with The Block about the announcement, “There’s a perfect confluence of events occurring right now with the collision of decentralized AI, a performant blockchain infrastructure, and the crypto market bull run.” Our group has worked tirelessly for years in preparation for this moment, and we couldn’t be more thrilled.

With the advent of AI, the blockchain business has seen explosive growth in several subsectors. Another artificial intelligence training company, FLock, uses a hybrid strategy combining machine learning and sponsored training activities to compensate creators; Lightspeed Faction co-led a $6 million fundraising round for FLock last month.

Sports, video games, and the entertainment industry are all potential applications of Raiinmaker’s technique. A venture capital firm that invests extensively in the gaming business, Bitkraft Ventures, shares this line of thinking.

Following Wednesday’s launch of Bitkraft’s $275 million third fund, the company’s founding general partner Jens Hilgers stated that artificial intelligence (AI) may simplify game development, which in turn reduces the capital necessary to build new games and speeds up the time to market.