Venice AI has raised $65 million in a Series A funding round that valued the privacy focused artificial intelligence platform at $1 billion.
VVV, the native token of the Venice protocol, jumped 20% following news of the financing, as traders reacted to the company’s first external funding round since launching two years ago.
The round was led by crypto venture firm Dragonfly, with participation from Coinbase Ventures, North Island Ventures and other investors.
Venice provides access to more than 200 AI models for generating text, images, audio and video. The platform hosts open source models on its own infrastructure while routing requests for closed models from providers including OpenAI and Anthropic.
The company says prompts are encrypted and processed without being stored on its systems, positioning privacy and fewer content restrictions as alternatives to mainstream AI platforms.
