BlockBeats News, July 1st, Venice AI announced on Wednesday that it has completed a $65 million Series A funding round, valuing the company at $1 billion, marking its first external financing. The round was led by crypto venture capital firm Dragonfly Capital, with participation from Coinbase Ventures, North Island Ventures, among others.

Venice AI provides access to over 200 AI models while allowing users to preserve privacy, making it a beneficiary of strong market demand. Founded just two years ago, the company's website has attracted over 850,000 unique visitors, serving over 3 million active users, with an average daily API call volume of 1.7 million.

The startup hosts "unaudited" open-source models in its self-built data center and can also route calls to closed-source models such as OpenAI or Anthropic. All user inputs are encrypted, decrypted on the client side, forwarded to the model processing through external proxies, and Venice's own system does not store any user data. Some models also offer end-to-end encryption, but this feature requires a paid subscription to use. The company has been profitable, with annual revenue exceeding $70 million.

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