Codatta Secures $2.5 Million Seed Round Funding, Led by OKX Ventures
Codatta has announced the successful completion of a $2.5 million seed round. The funding was led by OKX Ventures, with participation from Comma3 Ventures, Mask Network, OGV, Paramita Venture, Web3Port, CGV, Fibo Partners, CatcherVC, BlockAI Venture, and angel investors from former senior leaders at Coinbase and Pinterest. Partners such as GoPlus and zCloak Network also made strategic investments.
Codatta is the first decentralized data protocol aiming to build foundational data infrastructure for developers and protocols, with built-in mechanisms generating scientific confidence levels. The goal is for Web3 users to monetize their data and efforts in developing public-accessible data without compromising privacy. It has assembled a sizable network of data contributors to enhance data confidence through AI-verified evidence, multi-party cross-referencing, and staking-as-confidence. Developers can create Web3-native applications powered by machine learning models in areas such as criminal-resistant networks, on-chain advertisement, dApp-agnostic recommendation systems, and credit-based lending products.
Building on the foundations set by Microscope and initiated by prominent crypto companies and projects, codatta launched its beta test in April 2024. This launch was marked by the contribution of several million address annotations from users, complementing an existing dataset of over 500 million labeled addresses. Codatta is dedicated to developing a permissionless network that encourages widespread participation from data contributors, with a strong emphasis on data integrity. This commitment to high-quality data is crucial for supporting the development of applications and protocols powered by machine learning and artificial intelligence.
The funding will be used to accelerate the development of tools for developers, enhance AI capabilities, build decentralized technologies, and improve community engagement.
