Valory raises $4 million in funding
The company intends to use the funds to build upon its current autonomous systems and fuel further growth
Autonomous systems software developer Valory announced it has raised $4 million in a successful seed round. The round was led by True Ventures and saw participation from Signature Ventures and Semantic Ventures.
Valory which launched back in 2021 aims to enable greater personal and economic autonomy by granting autonomous systems into everyday life. Valory believes that AI should be widely more accessible and in the hands of the individual rather than mega-corporations.
To achieve this Valory aims to fill a gap in the crypto infrastructure between decentralised blockchains and centrally operated off-chain bots and services – the goal is to enable transparency and less human intervention.
Bridging the gap
The company services are relevant for those that wish to escape “crowded crypto marketplaces for protocols and chains with powerful features” Valory’s autonomous services are also aimed at those wishing to take ownership of their off-chain infrastructure and avoid increased regulatory compliance for their decentralised autonomous organisation.
Valory also runs academies with community developers – those in the program learn and co-build new autonomous services. The program has seen the launch of an autonomous NFT collector DAO, the service enabled its users to get wider exposure to top-tier generative art, with minimal input compared to using a manual approach. Independent developers are currently able to join Valory’s next Autonolas Academy and learn how to build their own autonomous Economic Agents.
The money raised will go towards the further development of plugging the gap between decentralised Web3 apps and centralised services.