Allora Labs Closes Funding Round; Brings Total Funding to $35M

Allora Labs

Allora Labs, a NYC-based provider of a self-improving decentralized AI network, closed a strategic funding round.

The round brought the total amount to $35M. Backers to date include Polychain, Framework Ventures, CoinFund, Blockchain Capital, Archetype, Slow Ventures, Mechanism Capital, Delphi Digital, among others.

The company intends to use the funds to bring on further strategic partners that will play a key role in developing the network.

Led by Nick Emmons, Co-Founder, The Allora Network is a decentralized, self-improving machine intelligence network that powers applications with an evolving system of machine learning models utilizing innovative crowdsourcing mechanisms (such as peer prediction), reinforcement learning, and regret minimization.

Currently in the testnet phase, the Allora Network is gearing up for its mainnet launch in the near future. The Allora Network has started integrating initial machine learning models and has introduced the first group of network validators.