San Francisco, Monday September 16, 2024 – PIN AI startup stemming from Ethereum Core research, Google Brain, and leading academic institutions, announced that it had secured $10 million pre-seed funding round.
The investment is led by a16z CSX, Hack VC, and notable investors including Blockchain Builders Fund, Illia Polosukhin of NEAR Protocol, and others from Solana, Polygon, and Worldcoin, reports said.
PIN AI says it aims to launch the world’s first open-source Personal Intelligence Network (PIN), which seeks to democratize on-device intelligence and empower users with control over their personal AI.
The platform will transform smartphones into privacy-focused AI assistants, redirecting profits from user data back to the users themselves.
The platform leverages cutting-edge AI models and cryptography to handle tasks across apps, including shopping, food ordering, and wealth management. Unlike traditional systems dominated by tech giants like Apple and Google, PIN AI’s open-source approach ensures robust privacy and user-controlled data management.
PIN AI’s technology promises to revolutionize daily tasks by creating on-device models that evolve through distributed training.
This will enable users to perform tasks without opening multiple apps.
The company plans to integrate with Worldcoin and develop a front-end product akin to Siri, enhancing user experience. PIN AI’s system is designed to operate on low-spec smartphones by dynamically shifting between edge AI and server AI, ensuring accessibility.
The $10 million funding will support research, expand the team, and accelerate technology deployment. PIN AI will join the a16z CSX Fall 2024 cohort in New York City.
