Sahara Labs, the company behind the decentralised blockchain platform Sahara AI, received a total of $37 million in funding from major players in the financial world. Other companies in the round led by Pantera Capital and Polychain Capital; Binance Labs, Samsung Next, Matrix Partners, Nomad Capital, SCB 10X, Canonical Capital, Mirana Ventures, Foresight Ventures, Dispersion Capital and Tangent Ventures.

There is silence on the details

The company, CEO and co-founder of Sean Ren, an associate professor at the University of Southern California, did not make a statement regarding the total valuation. Sean Ren also remained silent on whether the company will issue a token in the future. It was also avoided to give information about whether investors are on the company’s board of directors.

They promise justice

Ren stated that Sahara AI has set out with the aim of becoming an institution that allows not only large companies but also individuals to benefit from artificial intelligence developments. As it is known, today, the field of artificial intelligence is dominated by large companies that collect the information of individuals. These companies generally work with closed source code and follow a policy far from transparency.

Associate Professor Ren claims that all this complexity will create biased algorithms, privacy issues, and unequal access to the benefits of artificial intelligence. So here, Sahara AI promises participants a fair share of the benefits of AI.

Ren also stated that the Sahara AI platform will also establish a marketplace for AI elements, especially models and datasets.