Fetch.ai secured $5 million from the GDA Group & affiliates

Fetch.ai, a Cambridge, UK-based artificial intelligence lab building an open-access decentralized machine learning network for smart infrastructure, announced a $5 million investment round.

The money was raised from the GDA Group & affiliates. In conjunction with the newest injection of funds, FET, Fetch.ai’s native token, will also be added to Fireblocks’ secure wallet and infrastructure platform for institutional investments.

Fetch.ai provides a decentralized framework for building and customizing autonomous AI agents to carry out complex coordination tasks. The platform is powered by its native token FET, which acts as the primary medium of exchange across the Fetch.ai ecosystem and a range of applications designed by the Fetch.ai team. With a strong track record of both public and private partnerships including a decentralized, multi-agent-based system that is integrated with over 700,000 hotels, and the powering of a decentralized marketplace for the global manufacturer Festo, Fetch.ai has created a network driven by cutting edge technology.