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UKHotViews©

 

Wednesday 13 June 2018

Fetch.AI fetches in $15m to build a 'digital world'

logoWill you think less of me if I admit that I just cannot get my head around the nuts and bolts of all this blockchain stuff? No matter how many times it's explained to me I sort of think I get it, then an hour later, much like the proverbial Chinese meal, I find I need to start again.

Anyway, I tell you this because Cambridge-based blockchain startup Fetch.AI has revealed a $15m seed funding round led by Outlier Ventures. The VC has been working (in 'stealth mode') with Fetch.AI since early 2017 and declared their involvement in March this year, trumpeting the startup as "genuinely next generation distributed ledger tech" (I think the last generation may have passed me by, but there we go).

According to Fetch.AI's website, "Fetch is a decentralised digital world in which useful economic activity takes place. This activity is performed by Autonomous Economic Agents (AEAs)… Underpinning the digital world is the smart ledger: a new generation of learning ledger that provides a collective super-intelligence to support agents’ individual intelligences."

So now you know about as much as I do, and I hope it means more to you than to me. It obviously means $15m to Outlier, so let’s hope their best brains 'get it'.

Posted by Anthony Miller at '08:07' - Tagged: funding   startup   blockchain  

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