Venice AI Secures $65 Million in Funding, Reaching a $1 Billion Valuation
2026-07-01 20:39
Odaily Planet Daily News: Venice AI founder Erik Voorhees announced on Wednesday that the company has completed its first external funding round, raising $65 million at a valuation of $1 billion. The round was led by Dragonfly, with participation from North Island Ventures, Coinbase Ventures, Archetype, Liquid2 Ventures, and Morgan Creek.
Launched in May 2024, Venice AI is a privacy-focused AI chatbot alternative platform designed to prevent storing user conversations on centralized company servers. Voorhees stated that Venice AI has surpassed 3 million users and has already achieved profitability in the first quarter.
Voorhees noted that the new funds will be used to expand the Venice platform, which provides access to major open-source and proprietary AI models through a single interface and API. The annual issuance of Venice AI's native token, VVV, has been reduced to 3 million tokens per year as of Wednesday, used to reward token holders who support the network by staking VVV.
Launched in May 2024, Venice AI is a privacy-focused AI chatbot alternative platform designed to prevent storing user conversations on centralized company servers. Voorhees stated that Venice AI has surpassed 3 million users and has already achieved profitability in the first quarter.
Voorhees noted that the new funds will be used to expand the Venice platform, which provides access to major open-source and proprietary AI models through a single interface and API. The annual issuance of Venice AI's native token, VVV, has been reduced to 3 million tokens per year as of Wednesday, used to reward token holders who support the network by staking VVV.
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