According to The Block report, Bagel Network completed a $3.1 million seed round of financing. This round of financing was led by CoinFund, with participation from Protocol Labs, Borderless Capital, Maven11 Capital, Graph Paper Capital, and Breed VC. The new funds will be used to enhance Bagel Network's operations, expand its current team of five, continue research and development work, and further expand its data ecosystem. Bagel Network plans to solve the problem of data monopolies by creating a market that allows data scientists and AI engineers to exchange and authorize verifiable datasets in a cost-effective and privacy-protective manner. The project aims to develop a decentralized data platform that supports machine learning (ML) models.