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Elastics Raises $2 Million in Oversubscribed Pre-Seed Round Led by Frst

Elastics said it raised $2 million in a pre-seed round with backing from First VC and angels tied to ElevenLabs, XBTO, RedStone and a16z Scout Fund as it develops an AI-native prediction market platform.

Summary

Elastics announced a $2 million pre-seed round, described previously as oversubscribed, to support its AI prediction market platform. The new release says the round was led by First VC and included angel investors from ElevenLabs, XBTO, RedStone and a16z Scout Fund. Elastics said it is building an AI-native operating system for prediction markets that allows users to trade in natural language while AI agents execute orders. The new information adds investor names and a clearer product description to the earlier fundraising announcement.

Terms & Concepts
  • Prediction market: A market where participants trade on the outcome of future events, with prices reflecting collective expectations about those outcomes.
  • Pre-seed round: An early startup fundraising stage typically used for product development, initial hiring, and validating market demand.
  • AI agents: Software systems that can interpret user instructions and carry out tasks autonomously, such as placing or managing trades.