Investment Companies Variant and Polychain Capital co-lead a $12 million Series A funding round for AI and Web3 firm Hyperbolic.
In an exciting development for the AI industry, Hyperbolic, a Web3 AI platform, has announced a successful $12 million funding round. This news was reported by Silicon Angle.
The funding round was led by Variant and Polychain Capital, with additional participation from Chapter One, Lightspeed Faction, IOSG, Vertex, GSR, Wintermute Ventures, Blockchain Builders Fund, Alumni Ventures, Ambush, White Star Capital, Web3.com Ventures, WAGMI Ventures, Tezos, systemic ventures, HashKey Capital, ElizaOS, Eden Block, and cyber•Fund, as well as CatcherVC and Animoca Brands.
Jasper Zhang, Co-Founder and CEO of Hyperbolic, shared that the company is building an "AI Rainforest". This analogy is drawn from the dynamic nature of rainforests, which help sustain biodiversity through intricate networks of interdependence. The AI Rainforest, according to Zhang, is interconnected, vibrant, and regenerative, empowering creators to explore without limits.
The AI Rainforest is designed to provide AI builders with all the tools and accessories required to design, build, train, and deploy their AI applications. It offers Web3 AI infrastructure and services powered by a decentralized network of GPU power.
Hyperbolic has also announced the launch of its cloud-hosted GPU marketplace. This marketplace aims to provide a platform for AI builders to access and rent GPU power as needed, enhancing efficiency and reducing costs.
In a statement to The Block, Zhang commented on the fundraising, stating that the funds will be used to expand the team of engineers and other departments while building their own blockchain. The fresh capital brings the total raised to $20 million, following a $7 million seed round in June.
With this funding, Hyperbolic's AI platform is poised to become an "AI Rainforest", an interconnected ecosystem of compute, AI services, and governance, providing a thriving environment for AI builders to innovate, collaborate, and thrive.
- The funding round for Hyperbolic's Web3 AI platform, including contributions from Variant, Polychain Capital, and others, will be utilized to invest in expanding the team and building their own blockchain, as stated by Jasper Zhang.
- Hyperbolic's AI Rainforest, a dynamic, interconnected, and regenerative platform, offers AI builders tools for designing, building, training, and deploying their AI applications, utilizing Web3 AI infrastructure and services powered by a decentralized network of GPU power.
- The news of Hyperbolic's successful $12 million funding round, leveraging the Web3 technology, was reported by Silicon Angle and further indicates a growing interest in AI finance and technology investments.
