Yuga Labs, a leading artificial intelligence (AI) and machine learning (ML) startup, recently announced that it has raised $16 million in a TwelveFold auction. This is the first time a TwelveFold auction has been used to raise capital for a startup.
TwelveFold is a new type of auction that allows startups to raise capital by selling shares to investors. Unlike traditional venture capital, TwelveFold auctions are open to all investors, regardless of their size or experience. This makes it easier for startups to access capital from a wider range of investors.
Yuga Labs is a San Francisco-based startup that uses AI and ML to develop products and services that help businesses make better decisions. The company has developed a suite of products and services that use AI and ML to improve customer experience, optimize operations, and reduce costs. The company has already raised over $20 million in venture capital, and the TwelveFold auction will help it expand its operations and reach new markets.
The TwelveFold auction was created by venture capitalist Bill Gurley, who is also an investor in Yuga Labs. Gurley believes that TwelveFold auctions are the future of venture capital, as they provide startups with access to a wider range of investors. He believes that this type of auction will help startups raise more capital, faster, and with less risk.
Yuga Labs is one of the first startups to use a TwelveFold auction to raise capital, and it is likely that more startups will follow suit in the future. This type of auction provides startups with access to a wider range of investors, which can help them grow faster and reach new markets. It also provides investors with more options when it comes to investing in startups, as they can choose from a wider range of companies.
Overall, the TwelveFold auction is an innovative way for startups to raise capital, and Yuga Labs’ success in raising $16 million through this method is an encouraging sign for other startups looking to use this method in the future.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: Plato Data Intelligence: PlatoAiStream