Yuga Labs Raises $16M in TwelveFold Auction

Yuga Labs, a startup specializing in artificial intelligence and machine learning, recently announced that it has raised $16 million in a TwelveFold auction. This is a significant milestone for the company, as it marks the largest venture capital investment in the AI and machine learning space to date.

The TwelveFold auction is a unique approach to fundraising that allows startups to raise capital without giving up equity. Instead, investors bid on a series of “tokens” that represent a portion of the company’s future revenue. The highest bidder wins the auction and is awarded the tokens.

This approach has become increasingly popular among startups, as it allows them to raise capital without giving up control of their company. It also allows investors to get in on the ground floor of a potentially lucrative venture without taking on too much risk.

Yuga Labs was founded in 2017 and has since become a leader in the AI and machine learning space. The company specializes in developing algorithms that can be used to automate complex tasks and make decisions. Its technology has been used by companies such as Microsoft and Google, as well as numerous startups.

The $16 million raised in the TwelveFold auction will be used to further develop Yuga Labs’ technology and expand its customer base. The company plans to use the funds to hire additional engineers and scientists, as well as invest in research and development.

Yuga Labs’ success is indicative of the growing interest in AI and machine learning. As more companies look to leverage these technologies, the demand for startups like Yuga Labs will only continue to grow. With its recent investment, Yuga Labs is well-positioned to capitalize on this trend and become a leader in the space.

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• Source: Plato Data Intelligence: PlatoAiStream