Pre-Seed Round Co-led by Arche Capital and Cyber Fund

Press Release – October 31, 2024 – SINGAPORE – Naptha AI, a cutting-edge platform that orchestrates multiple AI agents to optimize performance and drive innovation, today announces a $6 million pre-seed raise, co-led by Arche Capital and Cyber Fund. This pre-seed raise is substantial for an initial fundraise of outside capital, positioning Naptha AI at the forefront of the next evolution of artificial intelligence. The round also includes participation from several other prominent industry angels and VCs, such as Seed Club Ventures, the first investor in Stability AI, the company behind the groundbreaking open-source AI model Stable Diffusion, as well as Polymorphic Capital, GnosisDAO, Halo Capital, and many others. This funding round is a crucial step in advancing the next evolution of artificial intelligence, transitioning from a focus on isolated large language models to interconnected and specialized multi-agent systems creating collaborative, adaptive, and economically beneficial agentic networks utilizing Multi-Agent Universal Intelligence (MAUI).

Naptha AI is co-founded by Chief Executive Officer Mark Schmidt, an early contributor to pivotal open-source AI projects like llama.cpp and agent frameworks like AutoGPT, previously founding engineer at Duo and Firefox Support Lead at Mozilla, along with Chief Scientific Officer Richard Blythman, a former machine learning engineer at Huawei and Xperi, with a PhD in Engineering from Trinity College Dublin and Bell Labs, and several publications in AI. Richard was an early pioneer in the decentralized AI space more than three years ago, having previously founded Algovera.

Unlike mainstream AI approaches that aim to develop artificial general intelligence (AGI) as a single, monolithic entity, Naptha AI envisions AGI as a network of billions to trillions of agents working together. Naptha AI offers developers a platform for building and deploying large systems of cooperating intelligent agents. The platform will allow for decentralized, multi-agent orchestration, in a scalable, trustless, and cooperative environment, shifting the narrative of AI from a singleton to a dynamic, interconnected system of entities. This market-based approach not only enhances performance and scalability but also opens the door to entirely new use cases across industries, such as software development, scientific research, predictive analytics, healthcare and other fields.

By allowing developers to build within existing agent frameworks or bring their own, the Naptha platform meets developers where they are while leveraging the benefits of the Naptha network, including seamless integrations with decentralized infrastructure and economic systems for agentic networks, allowing developers to create systems that solve complex tasks far more effectively than traditional AI models. Founders and contributors from top open source AI projects who are already working with Naptha AI including Nous Research, AutoGPT and LocalAI.

This funding round was co-led by Cyber Fund, a premier and forward-thinking investment firm and creators of Lido and P2P.org, and Arche Capital, a venture capital firm co-founded by respected early-stage investors Vanessa Grellet and William Wolf. The round was also backed by several other prominent investors, such as Seed Club Ventures, a Venture DAO backing early-stage founders and the first investor in Stability AI, the company behind Stable Diffusion, the widely successful open-source AI image generation model.

Richard Blythman, Chief Scientific Officer and Co-Founder of Naptha AI said: “The future of AI isn’t just about more powerful models; it’s about intelligent collaboration between diverse networks of agents. This $6 million fundraising round marks a major milestone for Naptha AI and the future of decentralized multi-agent systems. We are at the forefront of a new paradigm in AI development, where diversity, scale and decentralization of multi-agent systems will drive performance and efficiency. Our vision is to create a system where developers can seamlessly build on each other’s work, creating a truly interconnected AI ecosystem that will transform industries and benefit stakeholders of all sizes. This is just the beginning, and we are excited to lead the charge in shaping the future of AI.”

“We believe Naptha AI’s decentralized multi-agent orchestration system is a game-changer for the future of AI. By enabling seamless cooperation and remuneration amongst an ecosystem of diverse, specialized agents, Naptha AI will unlock new possibilities for builders and end users. This approach will redefine how AI systems operate and interact, making it a foundational technology for the next generation of AI development. We’re thrilled to support this team in this endeavor, and look forward to helping the platform grow and evolve,” said William Wolf, Managing Partner at Arche Capital.

“We are thrilled to invest in Naptha AI and support their vision for a decentralized, multi-agent future. Naptha’s approach aligns with our belief that the next generation of AI will be driven by a decentralized network of intelligent, agentic software that can operate independently yet interact seamlessly. By fostering a collaborative ecosystem of specialized agents, Naptha AI is not just advancing multi-agent systems but is also paving the way for the Internet of Intelligence, a transformative shift where AI agents can autonomously accomplish tasks and drive economic efficiency across industries,” said Stepan Gershuni at Cyber Fund.

About Naptha AI

Naptha AI is a platform for decentralized, multi-agent AI orchestration designed for the cybereconomy. Co-founded by Mark Schmidt and Richard Blythman, Naptha AI enables developers to build scalable, collaborative networks of intelligent agents that interact with personal and commercial economies. The platform’s unique decentralized architecture promotes smarter cooperation between heterogeneous AI agents, driving innovation and efficiency across industries. www.naptha.ai

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Source : Businesswire