Tokyo, Japan March 27, 2024 Chainwire
Funds from the pre-Series A round, led by Dragonfly, will further develop MyShell’s open source models and agent platform to empower AI creators.
MyShell, a decentralized AI consumer layer, today announced that it has raised $11 million in a pre-Series A round with participation from a high-profile group of investors including Dragonfly, Delphi Ventures, Bankless Ventures, Maven11 Capital, Nascent, Nomad Capital, OKX Ventures, etc.
Prominent angel investors such as former Coinbase CTO Balaji Srinivasan, NEAR Protocol co-founder Illia Polosukhin, former Paradigm investment partner Casey C. Caruso and former Parafi partner Santiago R. Santos also joined the round, which increased MyShell’s total raised. date to $16.6 million.
“MyShell is poised to revolutionize the AI creator ecosystem,” said MyShell CEO Ethan Sun. “With this new funding, we’re not only scaling our operations, we’re driving the movement toward a more open, collaborative, and democratic AI landscape.”
MyShell – An AI consumer layer that allows users to create, share and own AI agents, home to over 1 million registered users and 50,000 creators. The company plans to use the new funding to add resources to the development of its open source core model; empower AI creators; AI asset trading platform; and continue to support the open source community.
Unlike most dominant AI companies like OpenAI, MyShell is committed to decentralization and open source development. This focus has already fueled the growth of several successful projects on the platform, including OpenVoice, which has earned more than 15,000 stars on Github; MeloTTS, an innovative open source text-to-speech solution that accurately mimics the human voice and supports a wide range of languages and accents; and Allice, an open source agent framework for complex AI development workflow.
“Demand for personalized AI experiences has grown rapidly over the past year, but currently most of these opportunities are centralized with gatekeepers,” said Dragonfly Managing Partner Haseeb Qureshi. “MyShell uses encryption and decentralization to put the AI ecosystem back into the hands of users and allows open source developers and communities to work together to create magical experiences and capture the fruits of their labor. There is a lot of hype around the intersection of cryptocurrency and artificial intelligence right now, but Ethan and the MyShell team have the technical expertise with the research background to bring their vision to life.
The funding reflects MyShell as a pioneer in the consumer layer of AI with its open value network that uses a revenue share economic model. MyShell also provides unique toolkit features such as Workshop, where users build AI agents using prompts, and Makerspace, a code-free AI workflow builder for creators.
The investment allows MyShell to deepen its commitment to lowering barriers to AI creation, fostering a community where openness and collaboration are paramount. Supporting decentralization and supporting the creator economy, MyShell doesn’t just build tools; it’s nurturing an ecosystem where every voice has the power to shape the AI landscape.
About MyShell
MyShell is an AI consumer layer that allows users to create, share, and own AI agents. Its features include an interactive AI app store that runs on multiple open source core models and integrates other models into a robust model hub, offering a dynamic and engaging user experience.
get in touch
Co-founder
Ethan Sun
MyShell
[email protected]
