Ta-da Raises $3.5M to Build Out Its AI Data Marketplace

Data is not just the new oil, but the very spark that ignites the fire of AI innovation.

In 2022, the global AI market was valued at approximately $428 billion and is projected to reach over $2 trillion by 2030, growing at a compound annual growth rate (CAGR) of 21.6% (Fortune Business Insights). This growth is attributed to the rising adoption of AI in various sectors such as IT & Telecom, Healthcare, BFSI, Automotive, and Advertising & Media. The IT & Telecom sector, in particular, is expected to dominate the market due to the shift of business operations to the cloud and the resultant surge in data generation and demand for good data.

Further, the integration of AI in big data analytics is becoming increasingly important. AI's role in extracting meaningful patterns from large datasets is seen as vital in overcoming challenges like data analysis trustworthiness and variations in raw data formats.

Software solutions are leading the AI market, accounting for more than 36.7% of global revenue in 2022. These solutions include AI applications such as text/content or speech recognition and deep learning technologies. Deep learning, in particular, is gaining prominence due to its ability to handle large volumes of data, accounting for around 36.4% of the global AI revenue in 2022.

The Data Dilemma: Paving the Way for AI's Future with Innovative Marketplaces

As AI continues to shape our future, the quest for high-quality data has become akin to a modern-day gold rush. In this digital era, data isn't just numbers and facts; it's the lifeblood that fuels AI innovation. However, accessing this crucial resource is fraught with hurdles—high costs, limited availability, and concerns over integrity and security.

Picture this: a young startup in Silicon Valley, teeming with ideas to revolutionize healthcare through AI, hits a roadblock—their advanced algorithms are only as good as the data they feed on. The scenario isn't uncommon. Across industries, from bustling tech hubs to quiet university labs, the thirst for data is unquenchable.

AI data marketplaces

These platforms are more than just a place to buy and sell data; they're the beating heart of the AI revolution. By providing a platform for the exchange of datasets, they're breaking down barriers that have long stifled innovation.

Imagine a world where a small company in Chicago can access the same quality of data as a tech giant in Silicon Valley. These marketplaces are leveling the playing field, democratizing data access, and in turn, fostering a surge in AI development.

But there's a twist in the tale—blockchain technology. It’s not just a buzzword; it's a game-changer for data transactions. With its promise of enhanced security and transparency, blockchain is transforming how data is exchanged, building trust in a landscape often marred by concerns over data misuse and privacy.

And then there's the human aspect. These marketplaces aren't just about algorithms and datasets; they're about people. From professionals in Atlanta contributing their expertise to verify data, to students in Boston earning tokens for their participation, these platforms are creating a community of data enthusiasts, all contributing to the growth of AI.

Ta-da's $3.5 Million Leap: Revolutionizing AI with a Groundbreaking Data Marketplace

In a groundbreaking move, the AI data marketplace Ta-da has announced a remarkable achievement: the successful completion of a $3.5 million funding round. This milestone marks a significant leap forward in the quest to make high-quality AI data accessible and affordable—a quest that could redefine the landscape of AI innovation.

The funding round, a collaborative effort of leading blockchain venture capitalists, was spearheaded by Dubai-based Morningstar Ventures, which has nurtured Ta-da since its inception in 2021. This fresh infusion of capital, led by the layer 1 blockchain protocol MultiversX, along with esteemed investors like GBV Capital, XVentures, NxGen, and Spark Digital Capital, is set to catapult Ta-da's vision into a tangible reality.

The funds are earmarked for a crucial mission: to bolster Ta-da's infrastructure and propel its operations to new heights. With an eye on expansion, Ta-da is poised to enhance its marketing and communication strategies, grow its dynamic team, and commission rigorous security audits to independently verify the integrity of its trailblazing protocol.

At its core, Ta-da was conceived as a solution to a pressing challenge that has long shackled the AI industry—the difficulty and prohibitive cost of obtaining high-quality AI data. By creating a competitive marketplace where businesses can readily acquire reliable datasets, Ta-da is not just solving a problem; it's igniting a revolution, enabling AI innovation to soar to unprecedented levels.

But Ta-da's vision extends beyond corporations and into the realm of individual empowerment. The platform supports individuals who can earn tokens by recording and validating voice data. Through its gamified web3 application, Ta-da invites "checkers" to engage in microtasks, rewarding them for their contributions to the data they validate.

In anticipation of the launch of its native app, Ta-da is set to conduct an Initial DEX Offering (IDO) on xLaunchpad, the official token launchpad of MultiversX. The brainchild of Vivoka, a pioneer in speech recognition solutions, Ta-da is the vision of CEO William Simonin, a serial entrepreneur with a passion for innovation. His brother, Hasheur, a leading web3 influencer and founder of Meria.com, along with luminaries like Luc Julia, the creator of Apple's Siri, and Morningstar Ventures’ CEO Danilo Carlucci, form the backbone of Ta-da's advisory board.

With the AI data market predicted to grow at a 25% compound annual growth rate over the next decade, transforming into a $109 billion economy by 2023, Ta-da stands at the forefront of this burgeoning sector. By gamifying data collection and distribution, the company is not just capturing a slice of this rapidly growing market; it's also unlocking new incentives for web3 users.

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