London-based decentralized AI and bitcoin treasury firm Satsuma Technology has raised £163.6 million, or $217.6 million, in a convertible note round led by ParaFi Capital, with additional participation from Pantera Capital, Digital Currency Group, Kraken, Arrington Capital, BTC Opportunity Fund and Borderless Capital.
According to reporting by The Block, Satsuma plans to use the funds to expand its operations and maintain at least three months of cash reserves, and it will allocate the remaining capital to its bitcoin treasury.
“This moment represents a landmark validation of our core belief: that fusing a Bitcoin-native treasury with decentralized AI is a paradigm shift in corporate value creation,” Satsuma’s Henry K. Elder said in a statement.
Formerly known as Streaks AI and later Tao Alpha, Satsuma develops infrastructure and revenue-generating AI agents for decentralized AI network Bittensor and invests in high-potential subnets within the ecosystem, The Block reported.
