San Juan, a Puerto Rico-based decentralized infrastructure provider, Intuition Systems, raised USD 4 million in seed financing. The round took place on June 15, 2023. Superscrypt led the financing for the company. Meanwhile, Shima Capital, Avon Ventures, WW Ventures, Matrixport Ventures, Polygon Ventures, and ConsenSys joined in the financing. In addition, several other VC, DAO, and angel investors participated in the financing.
Purpose of financing for Intuition
Intuition has plans to approach the public launch of its protocol and first applications later this year. Intuition will initially launch with a knowledge graph explorer built atop the protocol. It further seeks to directly display human-readable data regarding wallet addresses inside popular web wallets.
Earlier in November 2022, the company raised funds from Andrew Keys, founder of DARMA Capital, and Joseph Lubin, co-founder of Ethereum and founder of ConsenSys.
What the founder has to add
Billy Luedtke, the founder of Intuition Systems, said, “Nearly everything can and should have decentralized identifiers (DIDs) whether that’s a person, pseudonym, web3 product, organization, or even a news article.
We presently rely on a fundamentally flawed system of siloed, centralized platforms such as Yelp, LinkedIn, and Twitter to inform our Intuition about the world around us. These platforms shape our perception with fragmented, incomplete, and occasionally misleading information.”
What the investors have to comment
Jacob Ko, Partner at Superscrypt, further said, “Today, determining truth to make informed decisions is a complex and difficult task. Information is largely concentrated in big tech platforms, search and curation algorithms are opaque, and identity and reputation standards are too fragmented to provide strong signals. Intuition’s approach of incentivizing crowdsourced knowledge and opinions from users in a globally inclusive and decentralized way will fuel a better understanding of any person, ID or topic. It has the potential to change the way we disseminate, consume and understand information, and we’re excited to back a team with deep experience working on data interoperability and digital identity.”
In addition, Alex Lin, Head of Research and Investor at Shima Capital, said, “Our digital identities form the bedrock of a flourishing data-driven economy and society. However, the vast reservoir of digital knowledge on the internet still exists in a disparate and incomplete state. For a future free from these fractured conditions, we require purpose-built infrastructure that fosters the creation and seamless access to consolidated, trustworthy, and permissionless information. Anchored by an exceptional team, Intuition harnesses web3 primitives to align ownership and incentives, driving forward this transformative vision. I am thrilled to support their journey towards this exciting future.”
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