SPICE AI

Founded in June 2021 by Microsoft and GitHub alumni Luke Kim and Phillip LeBlanc, Spice AI creates technologies to help developers build smart apps that learn and adapt.

What is SPICE AI?

Spice AI is the first developer-first platform for creating AI/ML-oriented applications that use time series data. There is no ecosystem with richer data than web3 and blockchains, but this area is currently hampered by a lack of data access and infrastructure. Solving the data problem in Web3 requires deep domain knowledge, and Spice AI builds this infrastructure, so developers do not have to deal with the complexity of creating it. 

Spice AI is building the basic platform for Web3, so developers don’t need to invest in building their own infrastructure and data engineering, which is complex and costly and frankly difficult to get right. Providing real-time insights from time series data across chains empowers intelligent applications built for a wide range of industries, from Decoupling purchasing patterns in e-commerce/retail to fraud detection and securities trading. 

spice ai data platform
Image 1: The Spice AI Web 3 Data Platform – Image Credits: https://blog.spice.ai/

Spice AI points out that it is quite difficult to access huge web3 datasets as a problem. There is no Web3 native indexing, data and artificial intelligence infrastructure, and it is incredibly complex and costly for developers to try to create them.

Spice, designed for applications and machine learning.xyz is the fastest, easiest and smartest way to leverage web3 data. Recommendations for teams NFT markets, smart tax, audit and accounting systems, such as spam detection purse wallet new generation of data-driven applications by allowing you to create a huge infrastructure we manage the complexity of the data and artificial intelligence to create and running. 

Competitors

The initiative’s biggest competitors are experienced developers at Web3 companies who can provide the data themselves, storing the data on other software platforms such as DataGrip or Snowflake. There are also a number of new startups looking to collect and store Web3 data, including Dune Analytics with a query system and Nansen AI, a blockchain analytics platform focused mainly on financial transactions.

Team

Before founding spice AI, Luke, he was the creator of the Office of the CTO Azure Azure incubations common, and here that does, and was leading the engineering teams to create and improve technologies, such as between OAM functions.

Phillip, GitHub, and GitHub was an engineering manager at Microsoft and running on distributed systems and internal Actions, Azure Active Directory and Visual Studio App Center including services that developers use every day contributed.

Funding

Spice AI is backed by the industry’s leading angel investors and leaders, including GitHub CEO Thomas Dohmke, who sits on the Spice AI board along with GitHub President Nat Friedman, Microsoft Azure CTO Mark Russinovich, and Tim Porter of Madrona. Spice AI has VC investment from Madrona Venture Group, Blackbird and Basis Set. 

spice ai backers
Image 2: Spice AI Backers – Image Credit: spice.ai

Spice AI has completed a $13.5 million seed round for its platform, which allows developers to create data-driven applications for Web3. Madrona, Australia-based Blackbird Ventures, Basis Set Ventures, Alumni Ventures Blockchain Fund, Protocol Labs, IEX Fund and other strategic angel investors, including GitHub CEO Thomas Dohmke, participated in this funding.

Summary

In summary, SpiceAI is a Web3 initiative that creates technologies for developers to build the future of intelligent applications. 

References

https://www.businesswire.com/

https://spice.ai/

https://blockworks.co/

https://www.geekwire.com/

 

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