Semiotic AI raises $ 60 million from the Graph Foundation to support ecosystem growth

The Graph Foundation has announced an eight-year $ 60 million funding grant to Semiotic AI to expand the software startup’s research and development capabilities in the fields of cryptocurrency and artificial intelligence.

Specifically, the association will concentrate on building the architecture that is required for the automated and verifiable indexing and query in the graph, as well as on the development of micropayment functionalities with the help of zero-knowledge tests such as ZK-SNARKs.

During the year 2021, Semiotic AI has partnered with Graph to help grow the ecosystem with a number of initiatives, such as an initial grant this March, among other.

Semiotic AI raises $ 60 million from the Graph Foundation to support ecosystem growth
Semiotic AI raises $ 60 million from the Graph Foundation to support ecosystem growth

With this news, Semiotic AI is following in the footsteps of two infrastructure platforms to become a central protocol developer on the web. StreamingFast received a $ 60 million grant from Graph in June, while blockchain service provider Figment received $ 48 million in late July.

Sharing insights into how semiotic AI will achieve greater graph scalability and economics through the use of artificial intelligence and cryptography, Graph co-founder Brandon Ramirez stated:

“They specialize in the same AI toolkit that Google Deepmind used to defeat the world’s best Go gamer and then solve the age-old protein folding problem. The graph is all about data, and just as AI plays a central role in all web2 products, this partnership will contribute to the convergence of AI and the decentralized Internet. “

Graph was launched on the mainnet in December 2020 and has quickly made a name for itself as one of the leading query and indexing platforms in the Web 3.0 space. At the time of writing, the network supports data indexing from 22 networks, including Ethereum, Arbitrium, and Avalanche, as well as over 22,000 sub-graphics, including ENS Domains, Compound V2, and Uniswap V2, among others.

Beginning of September, Ethereum co-founder Vitalik Buterin has touted ZK-SNARKs as a potential major technology adoption in the decades to come.

Sam Green, Semiotic AI co-founder and CTO, commented on the latest partnership, using phone and web searches as prime examples of how a wealth of innovations can emerge from fundamental technologies:

“Research and development efforts in these public services resulted in myriad inventions that improved communication and access to knowledge for all. As a result of this collaboration, we will also invent new open source technologies that will benefit both The Graph users and the wider Web 3.0 community. “

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