July 30, 2024
Hyperbolic, a company specializing in blockchain-based artificial intelligence cloud services, has successfully garnered $7 million in seed funding. The funding round was spearheaded by Polychain Capital and Lightspeed Faction, with additional contributions from a variety of sources including Chapter One, LongHash, Bankless Ventures, Republic Digital, Nomad Capital, CoinSummer Labs, Third Earth Capital, and several notable individuals such as Balaji Srinivasan, Illia Polosukhin, Sandeep Nailwal, Casey Caruso, Tekin Salimi, and Santiago Santos.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Hyperbolic | $7M | July 30, 2024 | Seed | Polychain Capital and Lightspeed Faction | AI, Web3 |
The primary objective of Hyperbolic is to decrease the consumption of AI computing resources by pooling GPU power. To ensure the security and authenticity of its network, the company utilizes blockchain technology. Rather than focusing on the fine details of enhancing AI service performance to rival web2 companies, Hyperbolic's co-founder and CEO, Jasper Zhang, expressed that the company's ultimate aim is to establish an open AI ecosystem and economy that is accessible and beneficial to all.
About Hyperbolic
Hyperbolic is a company that aims to unite global compute resources to provide accessible, affordable, and scalable GPU resources and AI services. Their mission is to build the web for Web3 by developing a decentralized microservices platform, powered by an internet-scale mesh network.
They offer a user-friendly AI Dashboard3 where users can start in seconds and keep running. To try their inference services, users need to obtain an API key by registering a new account on the Hyperbolic AI Dashboard. Once registered, users can navigate to the Settings page on the dashboard to view and copy their Hyperbolic API Key.
Website: https://hyperbolic.xyz/
About Investor
The funding round was spearheaded by Polychain Capital and Lightspeed Faction, with additional contributions from a variety of sources including Chapter One, LongHash, Bankless Ventures, Republic Digital, Nomad Capital, CoinSummer Labs, Third Earth Capital, and several notable individuals such as Balaji Srinivasan, Illia Polosukhin, Sandeep Nailwal, Casey Caruso, Tekin Salimi, and Santiago Santos.
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