Surf, an AI startup specializing in crypto services, has successfully raised $15 million in a funding round led by Pantera Capital, with additional participation from Coinbase Ventures and Digital Currency Group. The company, which was launched in July 2025 as an invite-only platform, opened its doors to the public in September and has already garnered over 300,000 users who have collectively generated more than a million research reports.
According to co-founder and CEO Ryan Li, Surf was originally developed for internal use by the founders, but it quickly gained traction in the market. “I think Surf is the best model for crypto, and we want to make sure people trust Surf instead of relying on hallucinations from other models,” Li stated. This statement highlights the company’s commitment to providing reliable and specialized information in a sector often criticized for its volatility and misinformation.
Surf distinguishes itself from generalized AI models such as ChatGPT, Perplexity AI, and Grok, which offer broader but less detailed answers. “ChatGPT is a really good generalist, but it doesn’t know the crypto industry enough,” Li noted, emphasizing that Surf has been designed specifically to address the unique complexities of the cryptocurrency market. This targeted approach aims to deliver research reports that are more nuanced and relevant to industry professionals.
Since its launch to the public in September, Surf has seen rapid user adoption and engagement. The platform claims to have generated $2 million in revenue from subscription fees, with a bold target of reaching $10 million by the end of 2026. This financial goal underscores the startup’s ambition to establish itself as a leader in a burgeoning sector.
In a blog post released earlier this week, Surf elaborated on its operational philosophy, stating, “Surf was built around a simple thesis: crypto is too complex and unique for general-purpose AI. LLMs [large language models] are powerful, but they hallucinate frequently and struggle with specialized workflows.” This assertion positions Surf as a more reliable alternative for users seeking precise information and insights tailored to the cryptocurrency landscape.
The platform aims to replicate the experience of having a personal crypto analyst rather than functioning like a traditional chatbot. This bespoke approach enhances the user experience and aims to foster greater trust in the information provided by the platform.
As the cryptocurrency market continues to evolve, the emergence of specialized tools like Surf may become increasingly vital for investors, analysts, and other stakeholders. By focusing on delivering accurate and detailed insights, Surf is not only filling a gap in the market but also contributing to the overall maturation of the crypto industry.
With its recent funding and expanding user base, Surf appears well-positioned to capitalize on the growing demand for specialized crypto services. The startup’s strategic approach and clear vision may well redefine how users interact with information in this complex and rapidly changing domain.
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