Fetch.ai, a Cambridge-based artificial intelligence lab building an open-access decentralized machine learning network for smart infrastructure, announced today that the GDA Group & affiliates will invest 5 million into the Fetch ecosystem. In conjunction with the newest injection of funds, FET, Fetch.ai’s native token, will also be added to Fireblocks’ secure wallet and infrastructure platform.
The allocation of funds will be used for the research and development of Fetch.ai’s existing applications as well as those in the pipeline.
Fetch.ai + Funding + Fireblocks
Offering a decentralized framework for building and customizing autonomous AI agents to carry out complex coordination tasks, the Fetch.ai platform is powered by its native token FET; which acts as the primary medium of exchange across the Fetch.ai ecosystem and a range of applications.
The Fetch.ai team has a strong track record of both public and private partnerships including a decentralized, multi-agent-based system that is integrated with over 700,000 hotels, and the powering of a decentralized marketplace for the global manufacturer Festo.
Funding from GDA Group & affiliates into the Fetch ecosystem paired with FET’s integration onto the Fireblocks infrastructure platform; which currently supports 200 enterprise and institutional customers, points to institutional interest in the Fetch.ai ecosystem.
This new investment will be distributed over a period of time, decided upon by the aforementioned; and will come with additional funding from interested capital partners during 2021.
“Fetch.ai’s integration with Fireblocks and the investment we have received from GDA group & affiliates could not have come at a more opportune time. With the Fireblocks integration, Fetch now has the necessary infrastructure to bring on institutional capital and strategic support, a moment realized and acted upon by GDA. We look forward to working with both teams to take the Fetch ecosystem to its next stage of growth and development.”
– Humayun Sheikh, CEO of Fetch.ai