Fetch.ai is building tooling focused on autonomous agents, network infrastructure and decentralised machine learning to enable communication and actions between AI applications. Its platform includes a native FET token and features such as a recently launched Notyphi notification for the Fetch wallet; the company also has patent applications and issued patents in the U.S. and Europe. CEO Humayun Sheikh says Fetch.ai aims to provide distributed-ledger mechanisms for entities to feed data into models, creating more equitable and traceable approaches to model training. The startup has pilot experience, including a 2020 parking project that combined AI-driven parking-spot detection with dynamic pricing and rewards for reduced driving. Fetch.ai plans to build services that turn generative-AI outputs into transactions — for example enabling chatbots to connect recommendations directly to purchases using FET tokens. The company will invest new capital to develop its roadmap and is preparing to launch commercial services later this year. Fetch.ai operates a blockchain-based machine-learning platform that deploys autonomous AI agents to perform tasks on behalf of large firms. Its native token, FET, undergirds the protocol and serves as the primary medium of exchange for those agents. The company says its applications are aimed at large enterprises, citing collaborations such as work with Bosch. Recent capital will be allocated to research and development of existing and future applications on the platform. The article reports a $5 million institutional investment commitment from Toronto-based digital asset firm GDA Group to be invested in the Fetch ecosystem over an undisclosed period. Separately, crypto custody provider Fireblocks will add support for the FET token to enable additional security for institutional stakeholders. Fetch.AI is a Cambridge, UK-based machine learning and blockchain development company building a decentralized digital world underpinned by a smart ledger. The platform hosts Autonomous Economic Agents (AEAs) that conduct economic work on behalf of humans or machines. Its ledger uses a DAG structure with transaction lanes and advanced machine-learning algorithms to probabilistically validate transactions and aims to scale to millions of transactions per second at near-zero cost. Fetch.AI secured $15M in seed funding led by Outlier Ventures and intends to use the proceeds for further technical development, corporate partnerships, and academic relationships. The company is building a technical team and a network of corporate and academic partners. The next major milestone is the public release of its testnet, expected later in 2018.

Total raised

$60M

Funding rounds

3

Latest round

Equity

Latest activity

Mar 2023