Nov 02, 2023 12:20 am
Modulus Labs Raises $6M in Seed Round for Zero-Knowledge AI Prover
According to CoinDesk, Modulus Labs, the company behind a new specialized zero-knowledge prover for AI models, announced that it has raised $6 million in a seed round. The round was led by Variant and 1kx, with participation from Inflection, Bankless, Stanford, and others. Angel investors include names in the blockchain ecosystem such as the Ethereum Foundation, Worldcoin, Polygon, Celestia, and Solana.Modulus makes use of ZKML, an acronym for zero-knowledge machine learning, and combines ZK proofs for AI models. The purpose of this technology is to use zero-knowledge proofs to prove that an AI model was executed correctly. The funding will be used to help build the Modulus product, according to co-founder Daniel Shorr.Shorr stated that their target audience is smart contract developers or on-chain services who want to add AI to their offerings. However, until now, adding AI into a smart contract meant sacrificing some of the security provided by blockchain technology.