New York, USA-based provider of an artificial intelligence (AI) platform for smart contracts and web3 protocols, Giza raised USD 3 million in pre-seed funding. The round took place on July 11, 2023. CoinFund, a leading crypto native investment firm and registered investment adviser, led the financing for the firm. Meanwhile, Arrington Capital, StarkWare and TA Ventures, along with prominent angels like Rand Hindi and Julien Bouteloup, among others, joined in the pre-seed round.
Purpose of financing for Giza
With the latest financing from pre-seed funding, Giza seeks to launch its platform. The platform will support web3 and AI developers to integrate machine learning into smart contracts and decentralized protocols.
What the company’s official has to add
Francisco Algaba, CEO of Giza, said, “Smart contracts are not as smart as their name would suggest. They lack the capabilities and ease of use of many web2 applications because, until now, smart contracts cannot trustlessly integrate machine learning. Giza is on a mission to unlock the capabilities of machine learning for web3 smart contracts and protocols, leveraging collective and open development. The successful integration of AI into web3 will not only expand the capabilities of smart contracts but will also enable the possibility of new models of ownership for AI.”
What the lead investors have to add
Einar Braathen, Investor, CoinFund, further added, “We are thrilled to support Giza’s efforts to be one of the first projects that make AI models available to smart contracts and dramatically expand their design space. Fran, Cem, and Renç are an exceptional and truly web3 native team, with what we consider a unique blend of AI, web3 and operational experience. This shines through in their incredible vision and their lightning-fast execution and time to market.”
About the company
Francisco Algaba is the founder as well as CEO of the company. The USA-based Giza offers an open-source artificial intelligence platform that offers smart contracts within DeFi, Gaming, and Security. Moreover, the platform has the ability to classify, contextualize and adapt by using zero-knowledge cryptography to bring model inferencing on-chain. Meanwhile, the new design space implemented by Giza has significant implications across web3 verticals. ML-integrated smart contracts will perform significantly better for usability in web3 with use cases such as biometric access and account recovery. In addition, DeFi protocols can have enhanced risk assessment mechanisms, leading to a more resilient open finance infrastructure. Giza can also shift the paradigm in web3 gaming with on-chain autonomous agents, difficulty adjustment and asset interoperability mechanisms.
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 platform for smart contracts and web3 protocols, Giza raised USD 3 million in pre-seed funding.){kind=link}