Ocean Protocol Foundation Ltd

Ocean Protocol Foundation Ltd is a company focused on enabling the monetization of data and AI models while ensuring user privacy through blockchain technology. Ocean Protocol Foundation Ltd, founded in 2017 and headquartered in Singapore, facilitates the secure sharing and monetization of data. The founders, Bruce Pon, Chirdeep C. , and Cristina Pon, emphasize blockchain's role in data transactions.

The company has engaged in 2 deals, with the most recent being a funding round in May 2022, where they raised USD 5 mn led by Cypher Capital, bringing the total amount raised to USD 5 mn. Ocean Protocol offers a suite of products focused on monetizing artificial intelligence (AI) models and data while maintaining user privacy. Key offerings include the Ocean Foam platform, which facilitates data challenges, and the PredictOor tool for deploying AI-powered prediction bots on cryptocurrency price feeds. These products empower developers with secure tools compatible with both GPU and CPU architectures, targeting clients in North America, Europe, and Asia.

Ocean Protocol generates revenue mainly through tokenized transactions involving Data NFTs and Data Tokens. Clients can purchase access to data environments and services via these tokens, facilitating both B2B and direct-to-consumer interactions. Revenue comes from various services, including participation fees in data challenges and the deployment of AI bots, contributing to a robust revenue stream as users seek to monetize their AI models and datasets. In May 2022, Ocean Protocol Foundation Ltd raised USD 5 mn in venture funding, which will be utilized to support 20 projects over the next 24 months, with plans to make investments of a minimum of USD 250,000 each quarter.

The company aims to expand into new markets and geographic regions, although specific targets have not been disclosed.