Hyperbolic, a pioneering blockchain-based artificial intelligence cloud firm, has successfully raised $7 million in seed funding to bolster its ambitious mission of transforming AI computing resources. The funding round was led by Polychain Capital and Lightspeed Faction, with substantial contributions from Chapter One, LongHash, Bankless Ventures, Republic Digital, Nomad Capital, CoinSummer Labs, Third Earth Capital, and prominent individuals including former Coinbase CTO Balaji Srinivasan, Illia Polosukhin from Near Protocol, Sandeep Nailwal of Polygon, Casey Caruso, Tekin Salimi, and Santiago Santos.At the core of Hyperbolic's vision is the optimization of AI computing resource consumption by aggregating GPU power through blockchain technology. This approach ensures a secure and transparent network operation, distinguishing Hyperbolic from traditional AI service providers.
Jasper Zhang, co-founder and CEO of Hyperbolic, articulated the company's strategic direction, stating, "The ultimate goal of Hyperbolic is not merely optimizing AI service performance to compete with web2 companies. Instead, we aim to establish an open AI ecosystem and economy where contributions are rewarded and accessible to everyone."
Hyperbolic has made significant strides since its inception, building on an earlier pre-seed funding round in November 2022, which raised $725,000 from investors such as Chapter One, Modular Capital, Samsung Next, Blizzard Fund by Avalanche, IMO Ventures, SNZ Holding, and Ausvic Capital. This recent seed funding marks a critical milestone in accelerating Hyperbolic's development and expanding its capabilities in the AI cloud services sector.
With blockchain technology as its foundation, Hyperbolic is poised to revolutionize AI infrastructure, offering enhanced efficiency and accessibility within the burgeoning field of artificial intelligence. The firm's commitment to building a collaborative and transparent ecosystem underscores its potential to reshape the future of AI computing.
As Hyperbolic prepares to leverage its newfound capital, the industry anticipates further innovations that could redefine standards in AI cloud computing, driving advancements across diverse sectors and fostering a more inclusive digital economy.
July 2024, Cryptoniteuae