⚡ Hyperbolic Raises $12 Million in Series A Funding
posted 11 Dec 2024
Hyperbolic, a startup focused on building decentralized AI infrastructure, has announced the successful closure of a $12 million Series A round led by Variant Fund and Polychain Capital. This brings the company’s total funding to $20 million.
In a thread on X, the company stated it plans to use the funds to democratize AI through open and accessible tools.
Launched in 2022, Hyperbolic provides infrastructure that transforms idle GPUs into affordable computing power. In November 2022, the company raised $725,000 in a pre-seed round, supported by Chapter One, Modular Capital, Samsung Next, Blizzard Fund by Avalanche, and others.
In July 2024, Hyperbolic secured a $7 million seed round led by Polychain Capital and Lightspeed Faction.
According to the company, their GPU marketplace offers instant access to chips at 75% lower costs, coupled with quick and easy setup.
Hyperbolic bridges Web2 and Web3 technologies to advance its mission of enabling high-performance AI. The startup’s partners include Quora, Stanford University, Eigen Layer, and others.
Currently, AI companies are spending large sums on computing resources. Hyperbolic’s solution can help reduce costs through a scalable system for GPU computing using blockchain for verifiable and secure data. By leveraging blockchain, the company aims to provide developers with an alternative approach to building AI solutions.
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