MyShell raises $11 million for its decentralized AI consumer tier.

adminMarch 30, 2024

Tokyo, Japan, March 27, 2024, Chainwire

The funding from the Pre-Series A round, led by Dragonfly, will further develop MyShell’s open source model and agent platform to empower AI creators.

MyShell, a decentralized AI consumer class, today announced that it has raised $11 million in a pre-Series A round with participation from a group of high-profile investors including Dragonfly, Delphi Ventures, Bankless Ventures, Maven11 Capital, and Nascent. Nomad Capital, OKX Ventures, etc.

Former Coinbase CTO Balaji Srinivasan, NEAR Protocol co-founder Illia Polosukhin, former Paradigm Investment Partner Casey K. Caruso, and former Paraphi Partner Santiago R. Santos. R. Santos) and other prominent angel investors also joined this round, bringing MyShell’s total amount to $16.6 million as of date.

“MyShell is ready to revolutionize the AI creator ecosystem,” said MyShell CEO Ethan Sun. “With this new funding, we are not only expanding our operations, but also accelerating the move toward a more open, collaborative, and democratic AI environment.”

MyShell, an AI consumer layer that allows users to build, share, and own AI agents, has over 1 million registered users and 50,000 creators. The company plans to use the new funding to add resources to develop its open source-based model. Empower AI creators. AI asset trading platform; Additional support for open source communities.

Unlike most dominant AI companies like OpenAI, MyShell is committed to decentralized and open source development. This focus has fueled the growth of several successful projects on the platform, including OpenVoice, which has already amassed over 15,000 stars on Github. MeloTTS, a pioneering open source text-to-speech solution that closely mimics the human voice and supports multiple languages and accents. Allice, an open source agent framework for complex AI development workflows.

“Demand for personalized AI experiences has exploded in the past year, but most experiences are now centralized through gatekeepers,” said Haseeb Qureshi, Dragonfly Managing Partner. “MyShell uses encryption and decentralization to put power over the AI ecosystem back in the hands of users, allowing open source creators and communities to work together to create magical experiences and reap the fruits of their labor. There is currently a lot of unfounded hype around the intersection of cryptocurrency and AI, but Ethan and the MyShell team have the technical capabilities with the research background to execute on the vision.”

These funds reflect MyShell’s position as a pioneer in the AI consumer class through a public value network deploying a revenue-sharing economic model. MyShell also offers unique toolkit features, such as “Workshops” where users build AI agents through prompts, and “Makerspace”, a no-code AI workflow builder for makers.

This investment allows MyShell to further its efforts to lower the barriers to AI creation and foster a community where openness and collaboration are paramount. By championing decentralization and supporting the creator economy, MyShell doesn’t just build tools. We are fostering 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 build, share, and own AI agents. This feature includes a conversational AI app store based on several open source-based models and integrates other models into a powerful model hub to deliver dynamic and engaging user experiences.