Harvard founders with work experience at Google and Bridgewater Associates.
Globally recognized investors and advisors with multi-billion-dollar exits, including former Dean of MIT Engineering and Harvard/MIT professors.
If we achieve our vision, GenesisAI will become the single most valuable technology of all time.
The market for AI services is currently valued at $100 billion and is estimated to reach $6 trillion by 2025.
The first global AI network that just works.
Why investors us
$908,265 since our founding
“GenesisAI is fighting back against AI oligopolies by creating the first, open access, marketplace of AI that does not exclude or discriminate against anyone. Its benefits will be shared by all.”
Investor in GenesisAI | Lead Independent Director of Chipotle. Former President of Ivax Corporation (acq. by Teva for $10B). Executive Committee Member of Syntex Corporation (sold to Roche Holdings for $5.3 B).
PhD in Applied Physics, MS in Computational Science and Engineering both from Harvard John A. Paulson School of Engineering and Applied Sciences. Published multiple scientific papers and raised over $1 million in research grants.
We want to enable anyone in the world to access AI.
Hello! We're GenesisAI.
When we were developing Palatine Analytics (a startup selling AI-powered employee performance monitoring systems), we learned that AI development is hindered by two fundamental problems:
1. AI development is expensive.
2. Independent AI developers can neither monetize nor share their code.
Today, there are only around 10,000 AI developers in the world. 99% of companies cannot afford to hire their own team of AI engineers to create in-house AIs, nor do they have enough technical capabilities to correctly determine from which open-source APIs to grab existing AI code.
Astoundingly, there is no way for AIs to exchange data, learn from each other, leverage their capabilities, and trade services— let alone judge the quality of AIs (there is no reputation system). AIs are operating in a closed environment.
So we built GenesisAI.
GenesisAI is a Machine Learning protocol. On top of this protocol, we are building a marketplace for AI products and services - an Amazon for AI services. The marketplace, which includes a built-in reputation system, connects companies in need of AI services, data, and models with companies interested in monetizing their AI tech. Initially, GenesisAI is focused on asset management space.
Companies want this.
We have a beta product and have agreements with over 20 AI supply-side firms who wish to place their product on our marketplace and 25 demand-side firms who wish to purchase products on our marketplace.
The AI service market will reach $6 trillion by 2025.
All in all, if you believe in supporting our mission below, join us and help us enable anyone in the world to access AI.
1. Large corporations will no longer be the only entities able to develop and utilize AI. We believe in making AI accessible: “for the people, by the people.”
2. By linking AI services with each other and increasing the supply of AI services, GenesisAI provides a web platform that offers low-cost AI services. This makes AI technology more efficient and affordable for businesses.
3. Our technology enables different AIs to communicate with each other, exchange data and trade services. Anyone can develop and purchase AI services.
Invest as little as $400 to help us further develop the single most valuable technology of our time. The time is now.
What does your company do?
We allow you to buy that top-of-the-line natural language processing technology that your company always wanted rather than building it yourself. You don't need a team of AI experts to use AI to your advantage -- just buy the software on our marketplace. We provide an efficiency boost to the market as a whole by making AI accessible and usable for numerous various-sized businesses.
Where will your company be in 5 years?
We hope to abstract beyond the technical expertise needed to implement AI and allow companies with no technical knowledge to tap into the benefits of this wonderful technology. Our goal is to get rid of an oligopolistic system where a few large tech companies hold a strong majority of the AI industry, and we hope to be significantly closer to this vision in five years.
Why did you choose this idea?
We would like to lay a foundation for the creation of Artificial General Intelligence and smash the current oligopolistic system of a few large companies basically owning all the AI.
How do you make money?
We will provide the protocol that allows people to make transactions on the platform, and we will take a small percentage of the transaction value. Our revenue forecasts are based on a transaction fee of 30%, which is likely to be the final value we will charge. This charge is very low if we compare it with how much money you would spend in marketing to get the same transaction volume you are getting on GenesisAI.
Can you make an example of AI interoperability (when you say that simple AI services can be combined to perform more complex services?
Say Node A (a hotel) pays Node B to get a summary of customer behavior depending on different variables and recommendations to increase the customer base. Node B can pay Node C for a service that uses pattern recognition to recognize the hotel's customer behavior and customer pain points. After receiving the output from Node C, Node B can use the input from Node C to come up with promotions that address the main pain points.
How do you solve privacy issue (companies not wanting to send sensitive data)?
Data will be encrypted in a way that machine learning code developers can still use it to train their codes without accessing sensitive information. No sensitive information will be shared with developers.
How will you use the capital you raise?
Our top priority is to build a robust technology. The team will be busy scaling the platform as we expect the number of customers to quickly rise and will need to invest in scalable IT infrastructure. Our second priority is dealing with sales & amp; marketing and spending all the resources that are necessary to find the best AI services, data providers, and clients.
When do you expect to generate revenues?
Right now, we are not trying to generate revenue, but we are quickly reaching our monthly product development goals to build something that works and gets people to believe in the platform. We are doing a great job in generating pre-registrations for companies that believe in our platform and will join at the time of the launch. Though not guaranteed, we expect to start generating revenues in two months. We are closing pre-registration with platform customers in advance to grow our revenues really fast. Our detailed revenue forecast until 2025 can be found in our slide deck (attached), though projections are not guaranteed.
What is Artificial Intelligence?
In simple words, Artificial Intelligence is an area of computer science that tries to simulate human behavior in a machine. This concept is revolutionary because it starts from the assumption that a well-functioning AI code won’t need any human direction. For example, if we run a big amount of online data to generate a market research on a particular industry, we won’t have to tell the code which trends to analyze, but the code will recognize the trends for us.
What problem does GenesisAI solve?
There is no communication between AIs; there is no way for AIs to exchange data, trade services, learn from each other, or expand their own capabilities. We match unused resources (in-house developed AIs and open-source Github AI code) with companies in need of these resources. The connector of these two parties will unlock trillions of dollars in market value.
Why your team is uniquely qualified to solve this problem?
Our team has the right mix of what it takes to solve this problem:
Founders – studied computer science and economics at Harvard, and long work experience in the AI industry and in companies like Google and Bridgewater.
Advisors – 2 multi-billion-dollar exits, former Dean of MIT Engineering, $310M exit, MIT AI/ML professor, 2 Harvard computer science professors, 2 Harvard Business School professors
What is the difference between AI and beneficial Artificial General Intelligence (AGI)?
Artificial General Intelligence is the final goal of everyone that works in the AI space. Narrow Artificial Intelligence is a code that performs a certain task, like image or speech recognition, which are two tasks typical of the human brain. AGI would come from the combination of all these narrow tasks, with the ultimate goal of creating a mastermind (the AGI) that is able to perform any task that our brain is able to perform (and more).
Why would companies not buy services directly from sellers’ website? Why do they need us?
Companies will have access to a number of services that are out of their reach for network reasons, geographic reasons, or other reasons. When they access the marketplace, they will search the service they want, and our system will couple them with some existing provider, similar to how Uber matches drivers and riders. This system prevents companies from skipping us, because we will couple them with the service provider, and they will rely on our platform to evaluate service quality and choose the most appropriate service from a numerous set of services.
How do you guarantee liquidity to equity investors?
Our first years of operations will focus on organic growth, revenue stabilization, and achieving breakeven. When these goals are achieved, we will start thinking about liquidity events that will give investors the opportunity, if they want, to get great returns. We hope that our estimated returns to be beyond 1000% for investors at that stage (but cannot guarantee that).
GenesisAI has financial statements ending December 31 2018.
Our cash in hand is $64,011, as of December 2019. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $4,500/month.
At a Glance
to December 31
Short Term Debt
Raised in 2018
Cash on Hand
As of 12/13/19
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
We allow you to buy that top-of-the-line natural language processing technology that your company always wanted rather than building it yourself. You don't need a team of AI experts to use AI to your advantage, just buy the software on our marketplace.
In five years we hope to be providing an efficiency boost to the market as a whole by making AI accessible and usable for numerous various-sized businesses. We hope to abstract beyond the technical expertise needed to implement AI, and allow companies with no technical knowledge to tap into the benefits of this wonderful technology. Our goal is to rid the world of an oligopolistic system where a few large tech companies hold a strong majority of the AI industry, and we hope to be significantly closer to this vision in five years.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future if any.
GenesisAI Corporation was incorporated in the State of Delaware in July 2018.
Since then, we have:
- Our advisory board consists of members with multi-billion dollar exits, AI and Machine Learning experts who are current professors at MIT and Harvard, and marketing strategy experts who are current professors at Harvard Business School. - We have agreements with over 20 AI supply-side firms who want to place their product on our marketplace and 20 demand-side firms who wish to purchase products on our marketplace.
Historical Results of Operations
Our company was organized in July 2018 and has limited operations upon which prospective investors may base an evaluation of its performance.
Revenues & Gross Margin. For the period ended December 31, 2018, the Company had revenues of $0.
Assets. As of December 31, 2018, the Company had total assets of $70,501, including $70,501 in cash.
Net Loss. The Company has had net losses of $56,324 for 2018.
Liabilities. The Company's liabilities totaled $23,950 for 2018.
Liquidity & Capital Resources
To-date, the company has been financed with $65,000 in equity and $217,875 in SAFEs.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 18 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 18 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
GenesisAI Corporation cash in hand is $64,011, as of December 2019. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $4,500/month, for an average burn rate of $4,500 per month. Our intent is to be profitable in 24 months.
Since Dec 31st, 2018, monthly expenses increased and GenesisAI raised additional capital.
We estimate to reach a revenue of $500k by the end of April. Our cost is estimated to be 2,000 - 20,000 per month in the next 3-6 months. We rely on existing capital, potential outside capital that might be raised, and potential revenue.
A note from Wefunder. Unlike companies on the NASDAQ, early-stage startups have little operating history. Financial analysis is not as useful when there is limited data. It's more important to predict the size of the future market. If the founder achieves their vision, will enough customers pay the company enough money?
It's also common for fast-growing startups to lose money even faster: they are investing in future growth. In these cases, it's often better to check if the Cost of User Acquisition (CAC) is lower than the Lifetime Value (LTV) of that customer. If one spends $1000 today to make $10,000 over the next five years, that may be a smart bet. Amazon is a famous example of re-investing potential profits to maximize growth over 20 years.
GenesisAI is an early-stage startup, and that comes with the typical risks of a company at this stage. Relevant risks include unstable revenues in the initial phase of revenue creation, due to external developments in the addressed market, and new competitor entrance. This condition will limit our ability to pay dividends until we reach financial stability
Any valuation at this stage is difficult to assess. The valuation cap for the offering was established by the company. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment.
We have a small team and our future success depends on the ability of the core team to recruit key personnel to face a sustainable scaling effort. Job market conditions may affect our ability to recruit the talent we need to add new skills and competences in our company.
We are dependent on general economic conditions. Companies might reduce their willingness to invest in innovation and forward-looking improvements if they are facing an economic downturn. As we are targeting the company globally to join our marketplace, we might be able to diversify our outreach for new platform members based on the local economic outlook. This might temporarily reduce our market size. Furthermore, a global crisis might make it harder to diversify.
We will face significant competition. Even though we are greatly positioned as an early mover, we expect an increasing number of companies of different sizes targeting this very attractive market.
Our ability to succeed depends on how successful we will be in our fundraising effort. We plan to diversify fund-raising beyond this campaign, in order to use resources to build the necessary tech and business infrastructure to be successful in the long-term. In the event of competitors being better capitalized than we are, that would give them a significant advantage in marketing and operations.
Voting control will be given to a small number of shareholders. Investors in this platform would not be able to influence our policies or any corporate matters, including the election of directors, changing to our company governance documents, expanding employee option pool, or actions including mergers, consolidation, asset sales and other major actions requiring stockholder approval. Some of the larger stockholders include, or have the right to designate, executive officers and directors of our Board. These few people and entities make all major decisions regarding the company. As a minority shareholder and a signatory to any potential proxy agreements for voting, you will not have a say in these decisions.
Future fundraising may affect the rights of investors. In order to expand, the company is likely to raise funds again in the future, either by offerings of securities or through borrowing from banks or other sources. The terms of future capital raising, such as loan agreements, may include covenants that give creditors greater rights over the financial resources of the company.
There is no current market for our stock. There is no formal marketplace for the resale of our stock. The shares may be traded over-the-counter to the extent any demand exists. These securities are illiquid and there will not be an official current price for them, as there would be if we were a publicly-traded company with a listing on a stock exchange. Investors should assume that they may not be able to liquidate their investment for some time or be able to pledge their shares as collateral. Further, some investors are required to assign their voting rights as a condition to investing. This assignment of voting rights may further limit an investor’s ability to liquidate their investment. Since we have not established a trading forum for our stock, there will be no easy way to know what the Common Stock is “worth” at any time.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with potentially no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
The Board of Directors
CEO & President @ GenesisAI
2,708,000 Common stock
Past Equity Fundraises
Related Party Transactions
GenesisAI officer owns equity in related party
Summary of agreement. GenesisAI Corporation will pay $80,000 between 05/31/2018 and 05/31/2019 to Palatine Analytics Corporation for getting a CEO (Chief Executive Officer) services from Archil Cheishvili who is employed at Palatine Analytics Corporation. CEO services will include setting the company’s vision, creating the strategy, hiring and managing people, overseeing daily operations, managing finances, fundraising, overall product development, and customer acquisition
Use of Funds
40% towards product development. Paying to Platform Development Team
40% towards business development. Cost of Personnel. Cost of Marketing.
12.5% towards operations. Office space, travel, logistics, other SG&A
7.5% towards Wefunder fees
40% towards product development. Paying to Platform Development Team
40% towards business development. Cost of Personnel. Cost of Marketing.
12.5% towards operations - Office space, travel, logistics, other SG&A
7.5% towards Wefunder fees
Class of Security
Securities (or Amount) Authorized
Securities (or Amount) Outstanding
Form C Filing on EDGAR
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.
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