July 23, 2024
Swan Chain, a company at the intersection of artificial intelligence and blockchain technology, has successfully raised $3 million in seed funding.
Led by prominent investors Binance Labs and SNZ, the investment will enable Swan Chain to develop a comprehensive AI blockchain infrastructure.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
Swan Chain | $3M | Jul 23, 2024 | Seed | $3M | Binance Labs, SNZ | AI |
Swan Chain's innovative approach leverages OP Stack's Ethereum Layer 2 technology to create a full toolset for AI development. By harnessing the power of decentralized physical infrastructure networks (DePINs), Swan Chain transforms underutilized GPUs into a scalable and secure computing resource for AI workloads. This unique approach addresses a critical challenge in the industry by effectively coordinating scattered GPUs into usable clusters.
The infusion of capital will enable Swan Chain to expand its team, refine its technology, and further solidify its position as a leader in the AI blockchain space. With a focus on decentralized cloud computing, Swan Chain is redefining how AI applications are built and executed, offering increased efficiency, security, and accessibility.
About Swan Chain
Swan Chain, initiated in 2021, is a full toolset AI blockchain infrastructure accelerating AI adoption. Utilizing OP Stack’s Ethereum Layer 2 technology, it pioneers in merging Web3 with AI by providing comprehensive solutions across storage, computing, bandwidth, and payments. By tapping into underutilized computing power across a network of community data centers, its integration facilitates a significant reduction in computing costs by up to 70% while enabling the monetization of dormant computing assets. Through innovative marketplaces for decentralized storage, AI, and Zero-Knowledge proofs, alongside the efficiency of LagrangeDAO for AI model deployment, SwanChain makes AI development seamless and affordable.
Website: https://www.swanchain.io
Investors
Binance Labs: Empowering the Decentralized Web
Binance Labs, an investment arm of Binance, is dedicated to identifying and supporting promising blockchain projects and entrepreneurs. By providing essential financing and resources, Binance Labs helps to grow and nurture the broader blockchain ecosystem.
Website: https://labs.binance.com/en
SNZ: A Pioneer in Crypto Investment
SNZ, a crypto-native, research-driven investment company with a diverse portfolio of over 200 projects. Active since 2014, SNZ has been a significant player in the blockchain space, focusing on investment, community building, and incubation. Notably, SNZ was one of the earliest backers of Ethereum in Asia and has been a strategic partner for various Western projects, including Chainlink, aiding their expansion into the Asian market.
Website: https://snzholding.com/
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