Eidon AI Secures $3.5 Million in Seed Financing

Eidon AI, a web3 artificial intelligence firm, has raised $3.5 million in seed financing. This round was led by crypto-focused investment firm Framework Ventures, with additional support from the Cayman Islands-based venture firm cyber.Fund. The seed round represents Eidon's total funding to date, as noted by the company's co-founder, Sam Padilla, in an email to The Block.

Eidon incentivizes users to provide data for training AI models. Users can submit new data, such as fine hand motions or object interactions, while others can audit the authenticity of this data through an upcoming blockchain integration. The firm plans to use the seed financing primarily to expand its team.

According to Padilla, "This funding enabled us to lay the foundation of what we hope Eidon will become, starting with data. But the end goal is a fully integrated decentralized AI network — far beyond just data. We want to build an unbreakable chain of contributions for the creation of AI models; where people can contribute data, compute, storage, code, models and much more. All the value generated by the models created in the network trickling back to all contributors."

In conjunction with the funding announcement, Eidon’s first version of its network went live on November 12. The network supports the platform's apps for data assessment and collection, along with an open sequencer that facilitates record keeping.