- Kaito, an AI-powered search engine for crypto, raised $5.5 million in a Series A funding round led by Superscrypt and Spartan, bringing its valuation to $87.5 million.
- Kaito aims to develop an AI search engine that integrates real-time data and utilizes large language models like ChatGPT, focusing specifically on the crypto sector.
- The startup acknowledges the limitations of existing language models in accessing real-time web3 data and aims to overcome this by combining its own web3 search engine’s real-time data with advanced LLM capabilities.
Kaito, a startup AI-powered search engine for crypto, has successfully raised $5.5 million in a Series A funding round, boosting its valuation to $87.5 million. With a focus on the crypto sector, Kaito aims to create an AI search engine that integrates real-time data and utilizes large language models (LLMs) like ChatGPT.
Inside Kaito’s Series A Funding Round
The funding round was led by early-stage crypto venture capital firms Superscrypt and Spartan. Spartan have already invested in firms such as non-fungible token(NFT) loan startup Unlockd and guild hub BlockchainSpace.
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“Accessing web3 today is difficult: information and content are spread across different forms and multiple platforms that traditional search engines struggle to collate. Kaito has been building an intuitive web3 search engine that filters out the noise and provides clear signals on just about any web3 topic,” said Kishore Bhatia, Partner at Superscrypt.
Priorly, last February, Kaito had a previous funding round led by tech VC Dragonfly, along with Sequoia Capital China and Jane Street. The round raised a $5.3 million investment. In 2021, both VC Dragonfly and Sequoia Capital China also invested in Animoca Brands. The firms Mirana Ventures, Folius Ventures, AlphaLab Capital Group, Time Research, Smrti Lab, and DWeb3 Capital are also named Kaito’s investors.
What is Kaito?
Founded in March 2022, Kaito utilizes Auto-GPT technologies and advanced LLMs like GPT4. According to the firm, its MetaSearch feature strives to provide users with the ability to search the entire crypto landscape effortlessly.
“The Web3 community has long desired a search engine capable of indexing information scattered across numerous private silos, such as Discord and Telegram, as well as data on the blockchain, both of which are unreachable through traditional search engines like Google,” said Yu Hu, Founder and CEO of Kaito.
In a statement, Kaito acknowledges that although ChatGPT is a powerful language model, it lacks access to real-time web3 data and cannot connect to various off-chain web3-specific information sources or on-chain data. To overcome this limitation, Kaito is merging real-time data from its own web3 search engine with the capabilities of advanced LLMs.
By creating the industry’s first LLM-based search engine, Kaito aims to revolutionize the way 300 million web3 users interact with blockchain-related information.
This article is published on BitPinas: AI Search Engine Startup Kaito Reaches $87.5M Valuation
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