Artificial intelligence infrastructure startup PIN AI announced today that it has raised $10 million in pre-seed funding for research and development, with plants to accelerate the launch of its open-source Personal Intelligence Network.
Recently founded and a participant in the Fall 2024 a16z Crypto Startup Accelerator from the venture capital firm Andreessen Horowitz, PIN AI is building a decentralized, on-device artificial intelligence platform that prioritizes user privacy and data sovereignty. The Personal Intelligence Network allows users to manage their personal data across various applications securely.
Where PIN AI differs from existing centralized AI solutions is that it allows users to host AI models directly on their devices to ensure privacy and safety as their data stays local and is not shared with third-party companies. The idea is to turn smartphones and other devices into AI-powered personal assistants that can handle complex tasks across multiple applications without relying on centralized tech giants.
In addition, the platform is open source, allowing developers to create custom AI agents that can interact with user data securely, giving users full ownership of their information.
In contrast to Apple Intelligence, PIN AI says, its decentralized model gives flexibility to both developers and users. AI agents on PIN’s platform will be able to bid for tasks through a blockchain protocol, offering transparency and giving users greater control over how their data is used. Through the use of cryptography and AI models, PIN AI has the high ambition of disrupting the current Web 2.0 model where tech giants profit from user data by offering a model where those profits return to the users.
“We’re building a movement towards an open-source future where personal AI assistants can work on PIN’s platform just like how smart contracts work on Ethereum,” said Davide Crapis, co-founder and lead of Protocol Research at PIN AI. “PIN will protect user freedom from big internet giants, take back the $100 billion-plus profit made from control of user’s data and attention, and return it to the users themselves.”
Crapis was notably a former member of the Ethereum Core research team, while fellow co-founder Ben Wu is an MIT graduate, Y Combinator Alum and serial entrepreneur.
The investors in PIN AI’s pre-seed round included a16z CSX, Hack VC, Anagram Ventures LP, Symbolic Capital Partners LP, DCbuilder Inc., Foresight Ventures Ltd., Blockchain Builders Fund LP, Alumni Ventures Group and several individual investors.
“The open internet has made large language models possible,” said co-founder Ben Wu. “We need to build an open platform for users on their trusted device, allowing access to their various data, making their Personal AI possible.”