MyShell Raises $11 Million for its Decentralized AI Consumer Layer

Tokyo,
Japan,
March
27th,
2024,
Chainwire

Funds
from
the
Pre-Series
A
round
led
by
Dragonfly
will
further
develop
MyShell’s
open-source
models
and
agent
platform
for
empowering
AI
creators

MyShell,
a
decentralized
AI
consumer
layer,
announced
today
that
it
has
raised
US$11
million
in
a
Pre-Series
A
round,
with
participation
from
a
cohort
of
high-profile
investors,
including
Dragonfly,
Delphi
Ventures,
Bankless
Ventures,
Maven11
Capital,
Nascent,
Nomad
Capital,
OKX
Ventures,
etc.

Prominent
angel
investors,
such
as
former
Coinbase
CTO
Balaji
Srinivasan,
NEAR
Protocol
Co-Founder
Illia
Polosukhin,
former
Paradigm
Investment
Partner
Casey
K.
Caruso,
and
ex-Parafi
partner
Santiago
R.
Santos
also
joined
the
round,
which
brought
MyShell’s
total
amount
raised
to
date
to
$16.6
million.

“MyShell
is
poised
to
revolutionize
the
AI
creator
ecosystem,”
MyShell
CEO
Ethan
Sun
said.
“With
this
new
funding,
we’re
not
just
scaling
our
operations,
we’re
catalyzing
a
movement
towards
a
more
open,
collaborative,
and
democratic
AI
landscape.”

MyShell,
an
AI
consumer
layer
that
empowers
users
to
build,
share,
and
own
AI
agents,
is
home
to
over
1
million
registered
users
and
50,000
creators.
The
company
plans
to
use
the
new
funding
to
add
resources
to
develop
its
open-source
foundational
model;
empower
AI
creators;
AI
assets
trading
platform;
and
further
support
the
open-source
community.

In
contrast
to
most
dominant
AI
companies
such
as
OpenAI,
MyShell
is
committed
to
decentralization
and
open-source
development.
This
focus
has
already
facilitated
the
growth
of
several
successful
projects
on
the
platform,
including
OpenVoice,
which
has
earned
over
15,000
stars
on
Github;
MeloTTS,
a
pioneering
open-source
text-to-speech
solution
that
closely
mimics
the
human
voice
and
supports
a
wide
range
of
languages
and
accents;
and
Allice,
the
open-source
agent
framework
for
complicated
AI
development
workflow.

“The
demand
for
personalized
AI
experiences
has
grown
explosively
in
the
last
year,
but
right
now,
most
of
those
experiences
are
centralized
with
gatekeepers,”
said
Dragonfly
Managing
Partner
Haseeb
Qureshi.

“MyShell
uses
crypto
and
decentralization
to
put
the
power
over
the
AI
ecosystem
back
into
the
hands
of
users
and
allows
open-source
creators
and
communities
to
work
together
to
create
magical
experiences
and
capture
the
fruits
of
their
labor.
There’s
a
lot
of
unfounded
hype
right
now
at
the
intersection
of
crypto
and
AI,
but
Ethan
and
the
MyShell
team
have
the
technical
chops
with
research
backgrounds
that
allow
them
to
execute
their
vision.”

The
funding
reflects
MyShell’s
position
as
a
pioneer
in
the
AI
consumer
layer
with
its
open-value
network
that
deploys
a
revenue-share
economic
model.
MyShell
also
provides
unique
toolkit
features
such
as
the
“Workshop”
where
users
build
AI
agents
through
prompts,
and
“Makerspace,”
a
no-code
AI
workflow
builder
for
creators.

The
investment
enables
MyShell
to
deepen
its
commitment
to
lower
the
barrier
for
AI
creation,
fostering
a
community
where
openness
and
collaboration
are
paramount.
By
championing
decentralization
and
supporting
the
creator
economy,
MyShell
is
not
just
building
tools;
it
is
nurturing
an
ecosystem
where
every
voice
has
the
power
to
shape
the
AI
landscape.

About
MyShell

MyShell
is
the
AI
consumer
layer
that
empowers
users
to
build,
share,
and
own
AI
agents.
It’s
Features
include
an
interactive
AI
app
store
that
stands
on
multiple
open-source
foundation
models,
and
integrates
other
models
into
a
robust
model
hub,
offering
a
dynamic
and
engaging
user
experience.

Contact

Co-founder
Ethan
Sun
MyShell

[email protected]