Gaming and AI structure CARV secures $10 million in series A funding

CARV announces a $10M Series A funding to enhance its gaming and AI data layer, supported by Tribe Capital and IOSG Ventures.

Data layer CARV announced a successful $10 million through a Series A funding round led by Tribe Capital and IOSG Ventures, including participation from ConsenSys, OKX Ventures, Fenbushi Capital, and others. This financial boost will enable CARV to expand its data layer, which is designed to maximize data innovation and promote a user-owned internet.

“The backing from these top investors underscores their confidence in our mission to reshape data ownership and value distribution,” said Victor Yu, CARV co-founder. “For too long, users’ data has fueled economic growth without them sharing the value created. The AI boom has increased demand for high-quality data for model training, but brands face challenges targeting users and ethically sourcing data amid tightening regulations. CARV empowers users to own, contribute, and monetize their data, capturing opportunities from the adtech reshuffling and AI revolution by putting them back in control.”

CARV’s approach includes the CARV Protocol, a modular cross-chain data layer that adheres to the ERC-7231 standard, CARV Play, a Web3 gaming distribution and social platform, and CARA, an AI gaming assistant. The company’s ecosystem aims to create an incentive-aligned infrastructure that reimagines the internet, focusing on individual user agency and privacy.

“We’re supporting CARV because its revolutionary approach is reshaping the way we manage decentralized data,” said Jeff Ren, partner of OKX Ventures. “CARV’s modular cross-chain protocol and ID aggregation solutions cultivate data self-sovereignty and integrity, all while emphasizing security and efficiency. We’re excited about the vast potential this partnership holds and are eager to see how the synergy between OKX’s Web3 product suite and CARV’s advanced cross-chain data layer will unfold.”

Looking forward, CARV plans to launch its node sale to enhance decentralization and increase trust across its protocol layers.