Hyperbolic Secures $12M in Funding in Series A as Blockchain Launch Nears

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As a seasoned researcher with a penchant for all things tech and finance, I find myself thoroughly intrigued by Hyperbolic’s latest announcement. With a background that straddles both fields, I can appreciate the strategic implications of their ambitious plans to bridge the gap between Web2 and Web3, particularly in the context of AI computing and blockchain technology.

Hyperbolic, a company specializing in open-access AI computing and inference services, announced successfully securing $12 million in their Series A funding round. This adds to the existing total funds raised by them, now amounting to a significant $20 million. The investment was primarily led by major players in the digital assets sector – Variant and Polychain Capital.

In a press announcement given to Coinspeaker, Hyperbolic announced that they will concentrate on their engineering, sales, and strategic departments using the fresh funding they’ve secured, aiming to increase their presence in this sector. The company’s founders, Jasper Zhang and Yuchen Jin, plan to connect the Web3 and Web3 spaces by integrating blockchain technology into their strategies.

In Hyperbolic, we’re constructing an AI Jungle – a space where innovators discover the fundamental resources needed for collaboration, growth, and success. Similar to a real-life rainforest, our ecosystem is intricate, lively, and self-sustaining, enabling creators to venture without boundaries,” Zhang explained.

It’s worth mentioning that Hyperbolic intends to introduce its latest blockchain in 2025, and securing funding could be highly advantageous for this AI-centric company as it prepares for the release. With major AI industry players like Quora, Hugging Face, OpenRouter, Black Forest Labs, Nous Research, LMSYS, top universities including Cornell, UC Berkeley, NYU, and Stanford already trusting Hyperbolic, they are aiming for a grand entrance.

Hyperbolic to Expand Operations

In simpler terms, Hyperbolic announced plans to enhance its Graphics Processing Unit (GPU) Marketplace. This upgrade aims to offer developers a straightforward way to obtain cost-effective and on-demand access to powerful GPUs. The company further promises top GPU performance, more accurate models, and secure, budget-friendly solutions.

The Marketplace operates using Hyper-dOS, Hyperbolic’s decentralized system for an operating platform. This empowers users to utilize their idle GPUs, potentially reducing operating expenses by up to 75% and offering instant access within minutes. Renting out these idle GPUs offers a high degree of flexibility, catering to the diverse needs of users interested in Hyperbolic’s services.

As a researcher delving into this field, I’ve come across Hyperbolic’s assertion that their Verifiable Inference Services are utilized by an impressive 30,000 entities. The allure of these services is significantly bolstered by their proprietary Proof of Sampling (PoSP) protocol, a key factor contributing to the processing of over 1 billion tokens daily, as stated in their recent release. Furthermore, Hyperbolic emphasizes their commitment to protecting users’ data and intellectual property, a point they underscore with great importance.

In his statement, Jesse Walden, a managing partner at Variant, noted that Hyperbolic is the initial player they’ve come across which effectively tackles the ‘cost of trust’ concern in decentralized GPU networks. Remarkably, it does so without compromising performance, quality, or user experience.

Moreover, other significant contributors to Hyperbolic’s Series A round were Chapter One, Lightspeed Faction, Bankless Ventures, Wintermute Ventures, among others. Earlier, Hyperbolic had secured $7 million funding from Polychain Capital and Lightspeed Faction. This AI-centric company also obtained a pre-seed investment of $725,000 from Chapter One and Samsung Next.

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2024-12-10 19:09