Venice AI becomes a unicorn as AI privacy concerns grow
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The funding round is Venice AI’s first external capital raise since it launched in May 2024.
The Erik Voorhees-founded Venice AI has achieved unicorn status after raising $65 million in Series A funding at a $1 billion valuation.
Led by Dragonfly and with backing from Coinbase Ventures, F-Prime, North Island Ventures, Morgan Creek and others, the funding round announced on Wednesday marks the company's first external capital raise since launching in 2024.
The fundraising came in the same month Anthropic was forced to suddenly cut foreign access to two of its latest AI models, and comes just weeks after OpenAI was accused in a class-action lawsuit for sharing ChatGPT data with third parties, highlighting the potential appeal of privacy-focused AI platforms.
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