Crypto VC Firm Polychain Tops Up AI Platform Ritual's $25M Funding Round With 'Multimillion Dollar' Investment
Polychain Capital, a blockchain-focused venture capital firm, has made a multimillion-dollar investment in artificial intelligence (AI) platform Ritual. This investment follows a $25 million funding round for Ritual in November, led by Archetype and featuring participation from Accomplice and Robot Ventures. The exact amount invested by Polychain has not been disclosed. Ritual aims to address the centralized nature of AI systems, with blockchain firms seeking to prevent an AI oligarchy by major tech companies through decentralized data storage and infrastructure access. BitMEX co-founder Arthur Hayes joined Ritual's advisory board in January, advocating for a more censorship-resistant, collaboration-powering technology for the growing AI economy.
