# GenLayer

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/genlayer

- Industry: Financial Services
- Headquarters: US
- Website: www.genlayer.com/
- Total disclosed funding: $7.5M
- Latest round: Seed (Aug 21, 2024)
- Investors on record: 14

## About

Based in Delaware, US, GenLayer operates as a blockchain services provider that offers an artificial intelligence-based intelligent blockchain platform for creating smart contracts and other digital business transactions. Albert Castellana (CEO), Edgars Nemše (CPO), and Jose María Lago (CAIO) are the co-founders of the company. In August 2024, GenLayer raised USD 7.5 million in seed funding led by North Island Ventures, including BlockBuilders, Node Capital, Arrington Capital, Tykhe Block Ventures, Cogitent Ventures, MS2 Capital, Samara Asset Group, DCF Asset Management, Wagmi Ventures, Sigmas Group, Magnus Capital, MH Ventures, and Zero Knowledge Ventures.

The company provides a platform that introduces the intelligent blockchain, which integrates large language models and Internet connectivity to enable decentralized, complex decision-making processes. GenLayer's core product, Intelligent Contracts, stands out by handling non-deterministic operations such as processing natural language and accessing the Internet, allowing for advanced, autonomous decision-making without human intervention. The firm’s technology includes Optimistic Democracy, which is a consensus algorithm that uses AI to facilitate agreement on subjective tasks. GenLayer's technology supports a range of applications, including prediction markets, decentralized autonomous organizations (DAOs), and parametric insurance. In addition, the company allows developers to leverage GenLayer's platform to create applications that utilize AI for web searches and natural language processing, with tools like a simulator for testing and documentation to assist in development.

The organization plans to use the August 2024 funding to develop the next evolution of artificial intelligence-powered smart contracts.

## Funding rounds

- Seed, Aug 21, 2024, $7.5M — Privity Credit, Arrington Capital, Samara Asset Group, North Island Ventures, MS2 Capital, Sigmas Group, Magnus Capital, MH Ventures, Node Capital, Cogitent Ventures, Wagmi Ventures, Zero Knowledge Ventures, BlockBuilders, Tykhe Ventures

## Investors

- Privity Credit — Seed
- Arrington Capital — Seed
- Samara Asset Group — Seed
- North Island Ventures (https://capitalatlas.ai/funds/north-island-ventures) — Seed
- MS2 Capital — Seed
- Sigmas Group — Seed
- Magnus Capital (https://capitalatlas.ai/funds/magnus-capital) — Seed
- MH Ventures (https://capitalatlas.ai/funds/mh-ventures) — Seed
- Node Capital (https://capitalatlas.ai/funds/node-capital) — Seed
- Cogitent Ventures (https://capitalatlas.ai/funds/cogitent-ventures) — Seed
- Wagmi Ventures (https://capitalatlas.ai/funds/wagmi-ventures) — Seed
- Zero Knowledge Ventures — Seed
- BlockBuilders — Seed
- Tykhe Ventures — Seed