Another Chatbot-Based Search Engine For Crypto In The Making

As AI-powered chatbots dominate current thought leadership discourse in the tech and business world, an AI-powered chatbot search engine for crypto, Kaito, raises $5.3 million to improve browsing with AI, ChatGPT.

“There’s constantly people fighting against information overload,” Yu Hu, founder, and CEO of Kaito said.

“We are shortening the path to finding answers from 30 minutes or an hour into 10 seconds.”

Participants in the round include Sequoia Capital, Jane Street, Mirana Ventures, Folius Ventures, and Alpha Lab Capital, among others.

The capital will be used to scale the team and accelerate the development of the product, Hu shared.

“We’re talking with OpenAI, Binance, and Dragonfly for our next round,” he said.

Hu is an ex-Citadel manager who spent almost a decade working in traditional finance.

He started researching crypto and investing in 2017, but in 2021 noticed that information was “so fragmented in crypto.”

“While I had so many amazing tools in traditional finance, there were virtually none in crypto.”

The crypto industry doesn’t have a cohesive way for people to search for information across channels in a way that traditional search engines like Google do for mainstream information.

“I read the other day that Google was no longer relevant for the access of crypto information and that one person was using Twitter to search for information,” Hu said.

“That’s obviously a one-silo situation but highlights the need for a search engine in crypto to navigate information for sources.

“Anything that lives on the blockchain, a generic search engine is not looking at today.”

In general, it’s hard to find information surrounding the ecosystem, given how much is tucked away on platforms that aren’t aggregated onto a general search engine like Google.

For example, if there’s a Twitter space or conversation on the platform, when you Google keywords surrounding it, it’s highly unlikely that those exact pieces of information will pop up.

But through Kaito, that information will be aggregated in a way that makes it accessible, which can be extremely valuable.

People are looking at trending topics, which of course can change on a daily — if not hourly — basis in crypto.

“Every day there’s millions and billions of tweets and through topic mining and topic clustering you can actually figure out what’s trending in the space,” Hu said.

“There are major topics people search for and a huge overlap in what people are interested in.”

Kaito’s MetaSearch aims to address this issue through a one-click product that enables users to search across the entire social crypto landscape through platforms like Twitter, Discord, governance forums, Mirror, Medium, podcast transcripts, and research, to name a few.