"Olas Raises $13.8M for AI-Powered Crypto App Store Pearl"

Coin WorldWednesday, Feb 5, 2025 8:06 am ET
1min read

Olas, a pioneering Crypto*AI project founded in 2021, has made a significant announcement regarding its app store, 'Pearl'. The company has received $13.8 million in funding, led by 1kxnetwork, which has enabled the launch of Pearl as a desktop application. This funding was followed by the launch of a $1 million grant program for agent developers under the Olas Accelerator initiative.

The funding round saw participation from various global venture capital funds, including Tioga Capital, Borderless, ARKN Ventures, Generatives Ventures, Metropolis, Keyrock, Smape, Sigil Fund, Zee Prime Capital, Very Early, and Perridon Ventures. Notable angel investors such as Leo Mindyuk, Co-founder of ML Tech, and Nicolas Gallet, CEO of Gallet Capital, also contributed to the fundraise.

The funds raised will be used to accelerate the scaling of Olas' agent app store, Pearl, and to enhance the development of decentralized AI agents. These AI agents aim to make crypto actions faster and more automated. The customizable, decentralized AI agents available on Pearl provide users with complete decentralized ownership, tailored to their specific needs.

By staking OLAS tokens, users can enable automatic working for specific tasks set by developers. These tasks can include DeFi trading, analyzing data to make informed predictions in prediction markets, or managing and automating social media handles. The open-source framework of Ola stack is used by developers for the creation, deployment, and management of autonomous AI agents.

Currently, the AI agents that can be set up at Olas include prediction agents, Modius agents, Agents.fun agent – Celofun, Optimus agents, and Olas Accelerator grants for the development of new AI agents. Olas has facilitated over 3 million agent transactions to date, with a growth rate of 30%+ MoM. The Ethereum co-founder, Vitalik Buterin, has backed the AI agents, arguing that they would be 'ubiquitous' in prediction markets.

David Minarsch, CEO of Olas, stated, "Pearl's agent app store represents a significant step forward in democratizing access to AI agents. By giving everyone AI agents they can not only use but fully own and customize, we're turning the status quo on its head. At a time when advances in AI can

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