GenesisAI Corporation
GenesisAI
GenesisAI Corporation is a US-registered company founded in July 2018. The company is based in Boston, Massachusetts and Miami, Florida.
According to the company’s technical paper[1] submitted to the crowdfunding platform Netcapital[2], GenesisAI is developing a Machine Learning protocol, as well as building a marketplace for Artificial Intelligence models, which connects companies in need of AI services, data, and models with companies interested in monetizing their AI tech. In the long term, GenesisAI aims at creating Artificial General Intelligence [3] [4] .
According to the company’s SEC filings[5], in 2022 GenesisAI launched a crowdfunding campaign from its own website. Within the Series A funding round, common shares are being offered to the investors under Regulation A+.
| ISIN | 🆔 |
|---|---|
| Industry | Artificial Intelligence |
| Founded 📆 | July 2018 |
| Founder 👔 | Archil Cheishvili, Mena Gadalla |
| Headquarters 🏙️ | Miami |
Area served 🗺️ | |
| Products 📟 | AI model marketplace, Proprietary AI models |
| Members | |
Number of employees | |
| 🌐 Website | https://genesisai.io/ |
| 📇 Address | |
| 📞 telephone | |
History
GenesisAI was co-founded by Archil Cheishvili[6] [7], a Harvard University graduate.
Archil studied Economics and graduated from Harvard. Before founding GenesisAI, Archil worked at Palatine Analytics[8] and before that he worked for Bridgewater Associates, the asset management firm.
Products and Technology
According to GenesisAI, the company has 3 main goals:
- To connect companies in need of AI services with companies who would like to monetize their AI technology. GenesisAI is building a marketplace, on which AI services can be sold and purchased by individual agents.
- To connect different AI services and leverage their data to eventually synergize into an Artificial General Intelligence.
- To confront the system of AI oligopolies, where only a handful of corporations own and operate AIs, by making AI technology accessible to small companies and individuals.
GenesisAI Marketplace: how the Marketplace works
GenesisAI’s web-platform has 3 parts:
- Supply side agents - companies and AI developers who provide AI services – the supply side AI nodes.
- Demand side agents - people and organizations who would like to use AI services.
- Protocol - specified rules for how the two parties can connect with each other and how the AI-to-AI economy works.
Some of the models available on the marketplace
As of April 2022, there are 42 tools available on the GenesisAI’s web-app. A brief overview of some of the models available:
- Face interpolation – allows users to upload photos and the model then interpolates, merging them together with the final photo being a crossover of the two. Users can toggle age, gender expression, and other variables.
- Baby Appearance Prediction – allows users to upload 2 photos of the parents and the algorithm will predictively return an image of their child.
- Photo to Art – turns photos into AI-stylized art.
- Hedging Tool – users can type in the name of a stock and the tool will output the relevant negatively correlated assets to the given ticker symbol.
- Exposure Analyzer – outputs a list of assets which are exposed to specific news and macro events.
- Speech Recognition – users can upload audio files and the tool will transcribe the speech into text.
- Text Sentiment Analyzer - derives the sentiment breakdown of the text indicating to what extent it is negative, positive, or neutral.
According to GenesisAI, the given tools are in Beta state and under development.
Fundraising campaigns
According to the company’s SEC filings, in 2022 GenesisAI launched a crowdfunding campaign from its own website. Within the Series A funding round, common shares are being offered to the investors under Regulation A+. In 2022, GenesisAI's valuation was estimated at 189M according to SEC filings.
Previously, GenesisAI ran an equity crowdfunding campaign on Netcapital in 2021.
According to the information given on Netcapital's website, GenesisAI’s valuation was $47,643,848 as of July 2021.
On Netcapital’s website it reads that GenesisAI raised approximately 2.57M USD in funding during the last campaign, which ended on July 17, 2021. As per SEC filings, previously GenesisAI raised 1.3M USD through Netcapital, bringing the total capital raised on Netcapital through several campaigns to just over 3.8M USD.
Prior to Netcapital, GenesisAI ran a crowdfunding campaign on Wefunder.com[9] and raised $625,390.
Crowdfunding platforms allow people to invest in private companies at the pre-IPO stage. Some of the popular crowdfunding websites are: Startengine[10], Netcapital, Wefunder, etc.
References
- ↑ "Technical paper" (PDF). netcapital.com. Unknown parameter
|url-status=ignored (help) - ↑ "Netcapital". Crowdfunding website Netcapital.com. Unknown parameter
|url-status=ignored (help) - ↑ "Why Futurists May Want to Invest in GenesisAI Stock". markets.businessinsider.com. Unknown parameter
|url-status=ignored (help) - ↑ "Will Markets For ML Models Materialize?". semiengineering.com. Unknown parameter
|url-status=ignored (help) - ↑ "GenesisAI Corp SEC Fillings (CIK #0001797609)". sec.report. Unknown parameter
|url-status=ignored (help) - ↑ "Archil Cheishvili on LinkedIN". linkedin.com.
- ↑ "Investor Connect: Archie Cheishvili of GenesisAI". investorconnect.org. Unknown parameter
|url-status=ignored (help) - ↑ "Palatine Analytics Website". palatineanalytics.com. Unknown parameter
|url-status=ignored (help) - ↑ "GenesisAI on Wefunder". wefunder.com. Unknown parameter
|url-status=ignored (help) - ↑ "StartEngine". startengine.com. Unknown parameter
|url-status=ignored (help)
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