The privacy protection artificial intelligence platform Venice AI has completed a $65 million Series A financing at a valuation of $1 billion, led by Dragonfly

According to TechCrunch, the privacy-focused artificial intelligence platform Venice AI has completed a $65 million Series A funding round, achieving a valuation of $1 billion and becoming a unicorn. This round of financing was led by the crypto venture capital firm Dragonfly, with participation from Coinbase Ventures, North Island Ventures, and others.

Venice AI stated that the platform provides access to over 200 artificial intelligence models and emphasizes user data privacy protection along with a "low censorship" experience. The company claims to currently have over 3 million active users, an annual revenue exceeding $70 million, and has achieved profitability.

The company plans to use the new funds to purchase graphics processing units and build its own data centers to reduce reliance on leased computing power and improve gross margins.