xTAO has secured over $22 million in investments to scale Bittensor. The public company xTAO successfully raised $22.8 million in a funding round conducted through subscription receipts. A significant portion of the funds was provided by well-known venture capital firms, including Digital Currency Group, Animoca Brands, Arca, Borderless Capital, and FalconX.
This is reported by Finway
Investments for Developing a Decentralized Artificial Intelligence Ecosystem
The raised investments will be directed towards enhancing Bittensor — a decentralized data marketplace for training artificial intelligence models. xTAO actively supports the ecosystem by developing products based on computing, data, and machine learning models, as well as working on validation infrastructure.
Meanwhile, on July 23, 2025, xTAO shares began trading on the TSX Venture Exchange (TSXV) under the ticker XTAO.U. This listing opens up new opportunities for the company to attract capital and strengthen its position in the international market.
TAO Token and Bittensor’s Strategic Role in AI
The company’s press release emphasizes that the TAO token is used as a reserve asset for the treasury. The xTAO team is confident in the potential of the Bittensor platform, which they believe has the potential to become the “Bitcoin of AI.”
The company believes that Bittensor could become the “Bitcoin of AI.”
xTAO founder Kariya Samaru highlighted that going public and securing funding are key steps towards achieving the company’s mission of creating decentralized artificial intelligence. It is worth noting that Samaru previously founded the cryptocurrency exchange WonderFi, which was later acquired by Robinhood for $180 million.