The Good Tech Companies - PIN AI Secures $10M From a16z CSX, Hack VC And All-Star Angels

Episode Date: September 9, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/pin-ai-secures-$10m-from-a16z-csx-hack-vc-and-all-star-angels. The platform leverages personal, contextual data and cryptography, deploying cutting-edge AI models on-device to handle tasks across apps—like shopping, orderin Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #pinai, #chainwire, #press-release, #pinai-announcement, #ai, #decentralized-ai, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. PIN AI announces $10 million in pre-seed funding to develop the world’s first open-source Personal Intelligence Network. A16z CSX, Hack VC, and notable investors have backed the project. PIN AI's platform turns smartphones into privacy-focused AI personal assistants.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Pin.ai secures $10 million from a 16Z CSX, HackVC and All-Star Angels, by Chainwire. San Francisco, United States, September 9, 2024, Chainwire, innovative startup from Ethereum Core Research, Google Brain, Stanford, MIT, and CMU aims to democratize on-device intelligence, empowering users with control over their personal AI, and receiving investment from a 16Z CSX, HackVC, and investors from projects like Solana, Polygon, Near, WorldCoin, etc. PinEye, a pioneering AI infrastructure company, announces $10 million in pre-seed funding to develop the world's first open-source personal intelligence network, PIN.

A16ZCSX, HackVC, and notable investors, including Blockchain Builders Fund, Stanford Blockchain Accelerator, Ilya Palasukin, Transformer Paper Author, Founder, Near Protocol, Anagram, Lily Liu. President, Sol Foundation. Symbolic Capital. Co-Founder, Polygon. Evan Cheng. CEO, Meisten Labs, Sway. DC Builder, Worldcoin Foundation. Foresight Ventures. Parent Company of the Block, Nomad Capital. Tim Shih, co-founder, Cresta, Ben Fish, CEO, Espresso, Scott Moore, co-founder, Gitcoin, Alumni Ventures, and Dispersion Capital, have backed the project. Offering an open-source, Web3-enabled alternative to Apple Intelligence, PINAI's platform turns smartphones into privacy-focused AI personal assistants.

Buyer-directing profits from users' data and attention, it empowers users to regain control and monetize their data. The platform leverages personal, contextual data and cryptography, deploying cutting-edge AI models on-device to handle tasks across apps, like shopping, ordering food, wealth management, and interacting with centralized exchanges, DeFi, and prediction markets. This AI-driven assistant ensures robust privacy and user-controlled data management, disrupting ultra-profitable models of Web2 giants, including Apple's 30% app revenue cut, over $100 billion, and Google's mobile ads and Android store revenue cuts. Greater than Davide Crappi's, co-founder

leading protocol research, said, We're building a greater than movement towards an open-source future where personal AI assistants can work greater than on Pin.ai's platform like smart contracts on Ethereum. Greater than he added, Pin.ai will take back the $100 billion plus profit from tech giants and return greater than it to users, allowing them to control and monetize their data. Our platform greater than offers access to a wider range of AI agents, developed by the open-source greater than community, capable of handling tasks across popular apps. Pin.ai's mission is to foster innovation for personal AI agents by offering access to personal, contextual data that reflects individual users' needs and preferences. Unlike closed ecosystems like Apple, Pin.ai's open platform connects privacy-protected user data via a Layer 2 blockchain. This enables more flexibility in AI application development

without the constraints of traditional, closed systems. Greater than Bill Sun, co-founder and chief scientist, said, On-device multi-modality greater than models will revolutionize daily life. We are building a personal index for greater than each user to create an on-device model that evolves via distributed training greater than on the user's phone. Soon, users won't need to open multiple apps to complete greater than tasks. The personal AI assistant will understand preferences and manage tasks greater-than efficiently. PinAI's assistant will connect users with apps and services greater-than bidding on its blockchain protocol to fulfill tasks like shopping or crypto

greater-than activities. PinAI shifts data monetization from big tech to users, allowing secure monetization of personal data. Users receive token incentives through data onboarding and intent fulfillment, only providing necessary data with matched personal AI agents while maintaining control of their information. At launch, PinAI partners with WorldCoin and is developing a front-end product similar to Siri, expanding its reach and enhancing user experience. Leading the team are co-founders Davide Crappis and Ben Wu. Crappis, formerly of Ethereum Core Research, leads protocol research. Ben Wu, heading strategy, is an MIT graduate, Y Combinator alum, and serial entrepreneur. The technical leadership includes

Bill Sun, a Stanford AI, math PhD and early Google brain researcher, as chief AI scientist, and Regan Pung, a CMU graduate and former lead at Didi Fintech and Yahoo Data Infra, as founding head of engineering. PinAI collaborates with a 16z crypto research, flashbots, espresso systems, and academics from Stanford, Columbia, and NYU. Ben Wu emphasized the importance of an open platform, saying, The open internet has made large language models possible. We need to build an open platform for users on their trusted device, allowing access to their various data, making their personal AI possible. Unlike Apple Intelligence, Pin.ai's system can run on low-spec smartphones by dynamically shifting between edge AI, on-device, and server

AI to optimize performance, ensuring wide accessibility. The funding will expand research, grow the team of AI and blockchain experts, and accelerate the deployment of PIN AI's technology. The company will join the A16ZCSX Fall 2024 cohort in New York City. About PIN AI PIN AI is developing an open-source personal AI operating system that leverages smartphone and app data to empower users with control and privacy. The company's approach aims to connect AI developers with users, promoting data sovereignty and developer empowerment. PinAI collaborates with Ethereum core research and is committed to privacy and innovation. For more updates, visit PinAI collaborates with Ethereum Core Research and is committed to privacy and innovation.

For more updates, visit PinAI, EO, X, formerly Twitter, Telegram, Discord, and L-Inkton. C-O-N-T-A-C-T-P-I-N-A-I, contact at PinAI. EO. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. And thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.