Covalent Research and Development
Latest round
- Seed
Last raised
- Sep 2020
Total raised
- Undisclosed
Investors
- 8
About Covalent Research and Development
Covalent Research and Development is focused on delivering data infrastructure for AI applications and decentralized organizations. Covalent's primary product offerings center around a robust data infrastructure designed specifically for artificial intelligence (AI) applications and decentralized autonomous organizations (DAOs). The company's flagship product, the AI Agent SDK, enables developers to create intelligent agents capable of Chain-of-Thought (CoT) reasoning, facilitating complex task execution across various blockchain environments. Covalent supports over 100 blockchains, providing comprehensive structured data solutions that empower more than 70,000 developers globally. By enabling businesses to leverage on-chain data and smart contracts efficiently, Covalent aims to reduce operational inefficiencies while enhancing transparency in AI-driven crypto-native enterprises known as Zero-Employee Enterprises (ZEEs). The geographical markets served include North America, Europe, and Asia, where developers and organizations harness Covalent's technology to transform their operational capabilities. Covalent's revenue model primarily hinges on providing subscription-based access to its suite of data solutions, including the AI Agent SDK and data co-processor services. Clients, which consist of blockchain developers and organizations, engage with Covalent through tiered pricing plans that cater to varying levels of data usage and service integration. In a typical transaction, a developer or organization would subscribe to a specific pricing tier, gaining access to Covalent's comprehensive data infrastructure and tools necessary for building and deploying autonomous AI agents. The firm's transactional structure emphasizes partnerships with developers and businesses seeking to employ AI agents for operational efficiencies, ensuring ongoing revenue generation through these strategic collaborations. Covalent's services are designed to meet the specific needs of its clientele, tailoring the data solutions to enhance the efficacy of their blockchain applications. The company is designing new products to improve its AI Agent SDK and anticipates launching these updates by the end of 2023. Additionally, Covalent aims to enter new geographic markets, particularly in South America and Africa, by mid-2024 to further enhance its global presence and support a broader range of developers and organizations. The recent investment will be instrumental in supporting these growth initiatives.
Who invested in Covalent Research and Development
8 investors across 2 rounds
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Questions about Covalent Research and Development
Who invested in Covalent Research and Development?
Covalent Research and Development has 8 investors on record across 2 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Covalent Research and Development raised?
Covalent Research and Development has raised 2 venture rounds. Sign up free to see how much each round raised and the total.
When did Covalent Research and Development last raise money?
Covalent Research and Development's most recent round on record is a Seed, in Sep 2020.
What does Covalent Research and Development do?
Covalent Research and Development is focused on delivering data infrastructure for AI applications and decentralized organizations.
Where is Covalent Research and Development headquartered?
Covalent Research and Development is headquartered in Vancouver, Canada.
Which VCs invest in companies like Covalent Research and Development?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at Covalent Research and Development's stage. Their profiles are linked below.
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