Toronto-Based Bagel Network Raises $3.1 Million in Pre-Seed Funding Round
Bagel Network, a decentralized machine learning (ML) data network based in Toronto, has secured $3.1 million in a pre-seed funding round led by CoinFund. The funding will support Bagel’s mission to reshape the AI infrastructure landscape by creating the largest decentralized ML dataset.
TLDR
- Bagel Network raises $3.1 million in pre-seed funding round led by CoinFund.
- Funding will be used to expand the decentralized AI database ecosystem and internal operations.
- Bagel aims to establish the largest ML data network connecting artificial and human intelligence.
- The network allows collaboration among ML engineers, researchers, and AI agents for dataset construction, trading, and licensing.
- It features a privacy-preserving two-sided marketplace advancing artificial general intelligence capabilities.
In an effort to open up access to high-quality training data for smaller organizations, Bagel is building a Web3 data marketplace that challenges the current data siloing practices of large tech conglomerates. Through this network, ML engineers, researchers, and AI agents can collaborate in a privacy-preserving manner to construct, trade, and license datasets.
Bagel CEO Bidhan Roy envisions a future where machine learning data is accessible to both humans and artificial intelligence on a trustless basis. By incentivizing privacy-preserving mechanisms and transforming the data economy, Bagel aims to drive significant advancements in AI while preventing data monopolies.
The pre-seed funding round received support from investors such as Protocol Labs, Borderless Capital, Maven11 Capital, Graph Paper Capital, and Breed VC. CoinFund founder and CEO Jake Brukhman expressed excitement about supporting Bagel’s “revolutionary team” in building a new decentralized data paradigm.
The funds will be used to enhance Bagel’s two-sided data marketplace, which prioritizes verifiable data integrity. By enabling collaboration with privacy-first autonomy, the network has the potential to unlock groundbreaking innovations in AI and bring us closer to realizing the full societal promise of machine learning.
Hot Take: Bagel Network Empowers Decentralized AI Infrastructure with $3.1 Million Funding
Bagel Network’s successful pre-seed funding round, led by CoinFund, marks a significant step towards reshaping the AI infrastructure landscape. With its mission to establish the largest decentralized ML dataset, Bagel aims to democratize access to high-quality training data and prevent data monopolies. By leveraging a privacy-preserving two-sided marketplace, this Toronto-based decentralized ML data network enables collaboration among ML engineers, researchers, and AI agents for dataset construction, trading, and licensing. The funding injection of $3.1 million will fuel Bagel’s efforts to drive advancements in AI and unlock the vast potential of artificial general intelligence. With support from investors like Protocol Labs and Breed VC, Bagel is poised to revolutionize the data economy and bring us closer to a future where machine learning data is accessible by both humans and AI.
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