LOCATION / March 29, 2023 - DWF Labs, a leading technology incubator, has announced its $40M investment in Fetch.ai, an innovative platform that powers peer-to-peer applications with automation and AI capabilities. The investment will support the development and deployment of autonomous agents, network infrastructure, and decentralised machine learning on the Fetch.ai platform.
Fetch.ai's platform provides all the necessary tooling for builders to develop, deploy and monetize their applications and platforms. As an autonomous machine-to-machine ecosystem, Fetch.ai's agents work as a network of independent parties that interact with each other directly and store information via the blockchain network. The process of autonomous economic agents finding, negotiating, and interacting with each other is all automated, and requires no user input, which reduces costs and removes the reliance on intermediaries.
Any resulting agreements between agents are then recorded on the Fetch.ai blockchain using FET, the native token of the Fetch.ai blockchain, which is the main medium of exchange to pay for transactions and can be used to pay agents for providing services.
Fetch.ai's decentralised machine learning allows for innovative solutions for agents to act upon, enabling the development of cutting-edge technologies that will revolutionise industries. Fetch.ai solves the problem of traditional federated learning by creating new revenue streams for stakeholders to contribute to models to help improve products and operations.
According to Andrei Grachev, the Managing Partner of DWF Labs,
"Fetch.ai's platform provides a comprehensive solution for building and deploying peer-to-peer applications with automation and AI capabilities. Their technical architecture and decentralised approach to machine learning create a new paradigm for developers and entrepreneurs, and we're thrilled to support their growth and development."
Fetch.ai's CEO, Humayun Sheikh, said,
"We are excited to partner with DWF Labs to accelerate the development and deployment of autonomous agents, network infrastructure, and decentralised machine learning on the Fetch.ai platform. This investment will help us advance our mission to bring automation and AI capabilities to the forefront of the decentralised technology industry."
The partnership between DWF Labs and Fetch.ai will create a new synergy in the decentralised technology space, advancing the development of autonomous agents and AI capabilities. DWF Labs' investment in Fetch.ai is a significant milestone for both companies and the industry as a whole.
Fetch.ai is an innovative platform that powers peer-to-peer applications with automation and AI capabilities. Its platform provides all the necessary tooling for builders to develop, deploy and monetize their applications and platforms. As an autonomous machine-to-machine ecosystem, Fetch.ai's agents work as a network of independent parties and interact with each other directly via the blockchain network. Any resulting agreements between agents are then recorded on the Fetch.ai blockchain using FET.
DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions. With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, the investment company DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high frequency trading.
