Fetch.AI Acquisition, Valuation, Funding & Investors
Fetch.AI was acquired by Artificial Superintelligence Alliance for $592M in March 2024.
Fetch.AI acquisition price
$592M
Acquired by Artificial Superintelligence Alliance · Mar 2024
Cumulative funding Fetch.AI raised
$76M
across 5 funding rounds
Key investors in Fetch.AI
Outlier Ventures
DWF Labs
Blockwall
Bitget
GDA Group
About Fetch.AI
Fetch.AI is a Cambridge-based platform enabling autonomous economic agents on a decentralized network for supply chain and DeFi applications. The technology powers AI agents that negotiate, transact, and optimize resources without intermediaries, using DeltaV for tokenization and Agentverse for agent deployment. Merged into the Artificial Superintelligence Alliance in 2024 with Ocean Protocol and SingularityNET, it operates on Cosmos SDK with FET tokens for staking and governance.
Founded
2017
HQ
CambridgeWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Usage-based
Valuation
$250M (Mar 2023)
Fetch.AI Acquisition
Fetch.AI was acquired by Artificial Superintelligence Alliance for $592M on 27 March 2024.
Before the acquisition Fetch.AI had raised $76M across 5 funding rounds.
Fetch.ai, a Web3 platform enabling an AI economy through autonomous agents, merged with SingularityNET, the world's first decentralized AI network, and Ocean Protocol, a decentralized data exchange for data protection, to form the Artificial Superintelligence Alliance (ASI) in 2024. Announced in March 2024, the merger finalized token consolidation by mid-July 2024 after delays from the initial June 13 target, creating the largest open-source decentralized AI network with a combined market value of $7.5 billion and 2.631 billion $ASI tokens. Fetch.ai CEO Humayun Sheikh became ASI chairman, emphasizing economies of scale to challenge Big Tech's AI dominance and foster decentralized superintelligence beyond AGI. The deal structure involved token migrations: $FET at 1:1 to $ASI, $AGIX at 1:0.433350 $ASI, and $OCEAN at 1:0.433226 $ASI, with ERC20 swaps starting June 11, 2024, self-custody upgrades via Fetch.ai network update, and multi-chain deployment prioritizing self-custody holders. Exchanges delisted $AGIX and $OCEAN as migrations began on SingularityDAO dApp. The strategic rationale focused on pooling resources for an inclusive AI ecosystem free from centralized monopolies, positioning ASI among top 20 cryptocurrencies comparable to Polygon and Chainlink. Post-merger tensions emerged as Ocean Protocol Foundation withdrew on October 9, 2024, citing inability to remain, amid disputes over 286 million $FET tokens allegedly sold by Ocean, prompting Fetch.ai's legal claims and a proposed settlement for token return in exchange for dropping litigation.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 27 Mar 2024 | Strategic M&A | $592M |
Fetch.AI Valuation
Fetch.AI is currently valued at $250M, based on its undisclosed-stage round in March 2023.
The $40M round was led by DWF Labs.
Fetch.AI valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2023 | Undisclosed stage | $250M |
Fetch.AI Funding History
Fetch.AI has raised a total of $76M across 5 funding rounds.
Fetch.AI's first fundraising round was a $15M seed round in June 2018. The most recent completed round was a $10M strategic investment round in April 2023.
Fetch.AI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2023 | Strategic investment | Bitget (lead) | $10M | - | Fetch.ai is a leading artificial intelligence blockchain platform that provides infrastructure for building smart, autonomous services, including an AI agent network for tasks like data analysis, prediction, and financial modeling, along with a smart wallet integrated with OpenAI's GPT API, decentralized machine learning, and AI agent-based trading tools. Bitget, a top crypto derivatives and copy trading platform, announced a strategic partnership with Fetch.ai on April 27, 2023, pledging $10 million (EUR 9.1 million) to support the Fetch.ai ecosystem as part of its fund for promising startups. This corporate round aimed to enhance the platform's AI and blockchain capabilities. The partnership supports Bitget's expansion in spot markets and Launchpad listings, with Bitget ranking as the 8th largest spot trading platform by daily volume at $990 million per CoinGecko. Fetch.ai's total funding across rounds reached approximately $75-83 million by 2024, including prior rounds like a March 2023 undisclosed round led by DWF Labs. |
| Mar 2023 | Undisclosed stage | DWF Labs (lead) | $40M | $250M | Fetch.ai is a Cambridge, UK-based artificial intelligence lab developing decentralized networks for autonomous AI agents and smart infrastructure. The platform enables developers to build and deploy peer-to-peer applications capable of acting autonomously on behalf of users, handling tasks such as booking hotel rooms, hailing rides, and finding parking spaces in optimized ways. The company's vision centers on creating a framework for developers to build applications that connect digital and real-life economies through automation over decentralized networks, with AI agents that operate independently across an immutable blockchain ledger. In March 2023, Fetch.ai announced it had raised $40 million in a round led by DWF Labs, a Singapore-based multi-stage Web3 investment company and market maker. The company was valued at $250 million post-money at the time of the round. According to Fetch.ai's CEO Humayun Sheikh, approximately half of the $40 million funding was injected into the Fetch.ai economy through FET tokens, with the remainder expected to be deployed within the following month. The funding was designed to support the development and deployment of autonomous agents, network infrastructure, and decentralized machine learning on the Fetch.ai platform, with a particular focus on building developer communities in Asia. Fetch.ai's technical architecture centers on AI agents that operate on the Fetch.ai blockchain using its native token, FET, which serves as both the medium of exchange for services and the record-keeper for agreements between agents. Prior to the DWF Labs investment, the company had focused on IP and technology development, accumulating several patent applications and patents issued in the United States and Europe. In February 2023, before the DWF round, Fetch.ai partnered with German industrial technology supplier Robert Bosch GmbH to establish the Fetch.ai Foundation to develop real-world use cases for blockchain technology in mobility, industrial, and consumer applications. |
| Mar 2021 | Series A | GDA Group (lead) | $5M | - | Fetch.AI, a Cambridge, UK-based artificial intelligence lab, develops an open-access decentralized machine learning network for smart infrastructure. The platform provides a decentralized framework for building and customizing autonomous AI agents to perform complex coordination tasks, powered by its native token FET. Fetch.AI has partnerships including integration with over 700,000 hotels and a decentralized marketplace for manufacturer Festo. In March 2021, Fetch.AI raised $5 million from GDA Group and affiliates in an OTC or series unknown round. The funds support research and development of existing and upcoming applications, platform expansion, and market reach, with FET added to Fireblocks' institutional wallet infrastructure. |
| Feb 2019 | ICO | - | $6M | - | - |
| Jun 2018 | Seed | Outlier Ventures (lead); Blockwall | $15M | - | Fetch.AI raised $15 million in a seed round in June 2018 led by Outlier Ventures with participation from Blockwall to kickstart development of its decentralized network and AI agents. The company, founded by machine learning experts including early DeepMind alumni, builds an emergent intelligence protocol combining distributed ledgers, machine learning, and innovations like directed acyclic graphs for high-performance, low-cost transactions via useful proof-of-work. Fetch.AI enables autonomous economic agents to perform tasks, interfacing with existing systems through standard APIs to form self-organizing markets. |
Who has invested in Fetch.AI?
5 investors have backed Fetch.AI across its funding rounds, including Outlier Ventures, DWF Labs, Blockwall, Bitget and GDA Group.
Lead investors include Bitget, DWF Labs, GDA Group and Outlier Ventures.
Fetch.AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Singapore | 1 | Lead | Apr 2023 | |
 Toronto | 1 | Lead | Mar 2021 | |
 Dubai | 1 | Lead | Mar 2023 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialFetch.AI Competitors
Fetch.AI competitors include listed companies like Rhino Bitcoin and Indokripto Koin Semesta, and private ones like Thetanuts Finance, Unmarshal, Waves Platform and Zora.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
 United States | Publicly listed | $478K | ($417K) | $594M | |
| Norfolk, VA | Private | - | - | $586M | |
 Bangalore | Private | - | - | $600M | |
 Moscow | Private | - | - | $600M | |
| Los Angeles, CA | Private | - | - | $600M | |
 Indonesia | Publicly listed | $16M | $7M | $609M |
Fetch.AI Public Comps
Fetch.AI is no longer listed, but its public comps include Rhino Bitcoin, Indokripto Koin Semesta, Stewards, BitGo Holdings, Coincheck Group, Bakkt, Chaince Digital, ProCap Financial, HashKey Holdings and Capital B.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $478K | ($417K) | 1242.8x | - | (1423.4x) | - | |||
| $16M | $7M | 36.9x | - | 81.1x | - | |||
| - | - | - | - | - | - | |||
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
| $3.1B | $354K | 0.2x | 0.2x | 1312.3x | (189.0x) | |||
| $2.3B | ($98M) | 0.1x | 0.2x | (2.9x) | (27.3x) | |||
| $2M | ($3M) | 148.5x | - | (97.3x) | - | |||
| - | - | - | - | - | - | |||
This data is available for Pro users. Sign up to see all Fetch.AI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Fetch.AI
| When was Fetch.AI founded? | Fetch.AI was founded in 2017. |
| Where is Fetch.AI headquartered? | Fetch.AI is headquartered in Cambridge, United Kingdom. |
| Is Fetch.AI publicly listed? | No, Fetch.AI was acquired by Artificial Superintelligence Alliance in March 2024. |
| Who acquired Fetch.AI? | Fetch.AI was acquired by Artificial Superintelligence Alliance in March 2024. |
| How much was Fetch.AI acquired for? | Fetch.AI was acquired for $592M in March 2024. |
| What is Fetch.AI's valuation? | Fetch.AI was last valued at $250M in its undisclosed-stage round in March 2023. |
| How much funding has Fetch.AI raised? | Fetch.AI has raised $76M across 5 funding rounds. |
| What was Fetch.AI's last funding round? | Fetch.AI's last funding round was a $10M strategic investment round in April 2023, led by Bitget. |
| Who are Fetch.AI's investors? | Fetch.AI's investors include Bitget, GDA Group, DWF Labs, Outlier Ventures and Blockwall. |
| Which companies are comparable to Fetch.AI? | Companies comparable to Fetch.AI include Rhino Bitcoin, Thetanuts Finance, Unmarshal, Waves Platform, Zora and Indokripto Koin Semesta. |
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