October 31, 2024
Sapien, a data collection startup, has successfully closed a $10.5 million seed funding round led by venture capital firm Variant. This investment, with additional backing from Primitive Ventures, Animoca, Yield Guild Games, and HF0, will support Sapien's innovative model for decentralized data collection. By incentivizing data contributors through cryptocurrency and reward points, Sapien enables people to supply labeled data essential for training artificial intelligence (AI) models. Angel investors in the round included Gabby Dizon, founder of Yield Guild Games, and Kevin Jiang, a former Softbank Vision Fund team member.
Founded by blockchain entrepreneurs Rowan Stone, ex-Coinbase and Trevor Koverko, ex-Polymath, Sapien creates decentralized work opportunities in AI data labeling. Contributors are paid in stablecoins like USDC or reward points for tasks such as tagging traffic signs and identifying cancer cells. With over 100,000 contributors, Sapien addresses data challenges for major clients like Alibaba and Baidu. Its unique model requires contributors to provide collateral, allowing them to earn or lose rewards based on their work quality.
Through this recent funding round, Sapien plans to expand its data-labeling workforce and continue gamifying data work, thereby creating a scalable system for decentralized AI data collection. By focusing on fairer working conditions and transparent incentive models, Sapien intends to revolutionize the data collection process while providing essential data for AI models across various industries.
About Sapien
Sapien is a data collection platform that uses cryptocurrency incentives and reward systems to build a decentralized workforce for labeling data used in AI model training. Founded by blockchain entrepreneurs Rowan Stone, ex-Coinbase and Trevor Koverko, ex-Polymath, Sapien provides diverse data services, catering to large enterprises such as Alibaba and Baidu. Sapien’s mission is to create equitable, decentralized work opportunities in data collection, making it accessible to a global audience of contributors.
Website:Â https://game.sapien.io/
X: @SapienGamified
About Investor
Variant
Variant is a venture capital firm specializing in Web3 and blockchain-based investments. Variant focuses on early-stage companies that leverage blockchain technology to create new economic opportunities. The firm has a strong presence in the crypto investment space and supports projects that align with its vision of a decentralized economy.
Location: Brooklyn, New York
Website:Â https://variant.fund/writing/
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