AI-powered crypto search engine Kaito raises $5.3M to improve browsing with AI, ChatGPT •

by Ana Lopez

Kaitoan AI-powered crypto search engine, raised $5.3 million in a seed round led by Dragonfly Capital, the company shared exclusively with

“There are people fighting information overload all the time,” said Yu Hu, founder and CEO of Kaito. “We’re cutting down the road to finding answers from 30 minutes or an hour in 10 seconds.”

Round participants include Sequoia Capital, Jane Street, Mirana Ventures, Folius Ventures and Alpha Lab Capital. The capital will be used to scale up the team and accelerate product development, Hu said. “We are in talks with OpenAI, Binance and Dragonfly for our next round,” he said.

Hu is an ex-Citadel executive who has worked in traditional finance for nearly a decade. He started researching crypto and investing in 2017, but noticed in 2021 that information was “so fragmented in crypto.” “While I had so many great tools in traditional finance, there were virtually none in crypto.”

The crypto industry does not have a cohesive way for people to search for information through different channels, as traditional search engines like Google do for mainstream information. “I recently read that Google was no longer relevant for accessing crypto information and that one person was using Twitter to search for information,” said Hu. “That is clearly a one-silo situation, but highlights the need for a search engine in crypto to navigate information to resources.”

“Everything that lives on the blockchain is not looked at by a generic search engine today.”

In general, it’s hard to find information about the ecosystem given how much is tucked away on platforms that aren’t collated in a general search engine like Google. For example, if there’s a Twitter space or conversation on the platform, those exact bits of information are highly unlikely to show up when you Google keywords around it. But through Kaito, that information is aggregated in a way that makes it accessible, which can be extremely valuable.

People watch trending topics, which of course can change daily – if not hourly – in crypto. “There are millions and billions of tweets every day and through topic mining and topic clustering you can find out what’s trending in the space,” Hu said. “There are important topics that people search for and huge overlap in what people are interested in.”

Kaito’s MetaSearch attempts to address this problem through a one-click product that allows users to search the entire social crypto landscape through platforms such as Twitter, Discord, board forums, Mirror, Medium, podcast transcripts, and research, just to name a few. to call.

In addition to gathering information, Kaito uses AI to optimize its search engine through ranking, topic mining, personalization, recommendation, speech-to-text transcription, and AI-generated content. It also integrates ChatGPT/GPT-3 to give crypto users an additional search experience.

The startup’s search engine has been in private alpha mode for its institutional investors since December and is now available to the public. A search engine targeting retail investors will go live in the second quarter of 2023, Hu said. The retail product will be free for everyone, while the institutional product will have a subscription-based model, he said.

The platform separates searches by “facts and opinions,” Hu showed during a demo. Users can search for keywords such as “Bitcoin” and it will show trending topics or general off-chain information around the phrase. At the moment, Kaito focuses on collecting off-chain information and will eventually implement on-chain content, just like Glassnode or Dune Analytics.

“The blockchain will be a parallel universe versus the web,” said Hu. “While Bing and ChatGPT serve the web, we serve as a search engine for web3.”

Eventually, the platform will also roll out a token-based community that will use a model similar to Wikipedia, where users can contribute to the platform through a tiered system, Hu said. “Users will have to level up and work their way up the ranks to contribute to data literacy.”

“Today, a vertical search engine will serve the crypto users because they all need one that is tailored to the community,” said Hu.

In the future, Hu sees blockchain technology become something not only crypto investors use.

“There will be a lot of other average people posting their work on the chain, artists will publish NFTs on the chain, it’s going to be a space like a web space in the future and we’ll be parallel to Bing and become a search engine that indexes everything for blockchain,” Hu said.

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