Fetch.ai Raises $40M and Hits a $250M Valuation

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Fetch.ai, a British company that develops technology for autonomous economic agents (AEAs), has recently announced a $40 million funding round led by venture capital firm DWF Labs.

The startup was valued at $250 million. FET, a cryptocurrency asset, is used to pay for the services and resources on the Fetch.ai network, and the company provides products such as Mettalex decentralized exchange, Resonate social network, MOBIX micromobility ecosystem, and Fetch Wallet.

Founder and CEO Humayun Sheikh revealed that negotiations with DWF began in January and that half of the funding has been received, with the rest expected to arrive in April.