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Kaito Elevates in the Crypto Market with a $5.5M Series A Funding Round

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Kaito, a trailblazing startup in the tech industry, has made notable strides with a successful Series A funding round, amassing $5.5 million. This achievement has propelled Kaito’s total valuation to a remarkable $87.5 million.

The significant funding round comes as the company’s innovative search engine debuts in a Beta version to a user base of 35,000 pre-registered individuals.

The search engine stands out due to its unique integration of large language models (LLMs) with a diverse array of data sources. LLMs, akin to OpenAI’s ChatGPT and Google’s Bard, are complex artificial neural networks trained on comprehensive language datasets, enabling them to understand and generate text in a manner similar to human language.

In doing so, LLMs possess the ability to comprehend intricate concepts and articulate them to users in an accessible manner.

Kaito’s innovative platform brings together LLMs with real-time access to a wide range of data sources. These sources encompass Twitter, Discord, Telegram, governance forums, Medium, Mirror, industry research, news articles, Kaito’s proprietary Twitter Space and podcast transcripts, and on-chain data.

This integration is groundbreaking, as existing technologies, such as ChatGPT, do not adequately connect with off-chain crypto-specific information silos or on-chain data.

This funding round follows a previous round in February that raised $5.3 million. Early-stage venture firms Superscrypt and Spartan spearheaded this latest round, while the previous round saw technology VC Dragonfly taking the lead, with participation from Sequoia Capital China and Jane Street.

The effectiveness of Kaito’s search engine has already been tested. In a prompt to inquire about a significant topic in the industry – the impact of an exchange-traded fund (ETF) launch by BlackRock’s subsidiary on Bitcoin – Kaito’s AI provided ten news articles on the subject and generated a nuanced answer.

It stated, “The potential approval of BlackRock’s Bitcoin ETF could have a positive impact on the crypto market, as it would make investing in BTC easier for institutional investors and increase institutional adoption.”

Kaito’s journey so far reflects the burgeoning potential of AI in the crypto space, with the company poised to make substantial contributions to the field in the years to come.

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