Ta-da, an artificial intelligence (AI) data marketplace incubated by Dubai-based Morningstar Ventures, has closed a $3.5 million funding round. Leading blockchain venture capital firms participated in the funding round. With the new capital, Ta-da intends to improve its infrastructure and grow its business. The money will also help fund safety audits that will confirm the protocol’s integrity independently, as well as improve Ta-da’s marketing and communication.
Besides Morningstar Ventures, which has funded the project right from the seed round, MultiversX, a Layer 1 blockchain protocol, led a recent cash injection, which saw the participation of other investors like GBV cash, XVentures, NxGen, and Spark Digital Capital.
The founders of Ta-da set out to address the challenge of high-quality AI data being prohibitively expensive and often difficult to get. The team believes that this has been the biggest hindrance to the realisation of the full potential of potential of AI companies. Not only does Ta-da cater to AI enterprises, but it also helps users earn tokens by recording and verifying voice data. Ta-da has developed gamified Web3 app that incentivises users to validate data by performing microtasks.
With Ta-da, companies can get their hands on cheap datasets while also gamifying AI data and increasing web3 technology’s application cases. Ultimately, this guarantees that AI companies can use validated data to create revolutionary apps.
To facilitate the growth of AI innovation, Ta-da offers a competitive marketplace where companies can purchase trusted datasets. Forecasts show that the AI data market will grow at a CAGR of 25% over the next decade, reaching a $109B economy by 2023. Using gamification to make data collecting and delivery more engaging, Ta-da hopes to get in on this fast-expanding market and provide web3 users new incentives.
This post was last modified on Jan 09, 2024, 07:28 GMT 07:28