Hyperbolic Raises $12 Million in Series A Funding Round
Hyperbolic, a firm specializing in open access artificial intelligence (AI) computing and inference services, has raised $12 million in a Series A funding round. This brings the total funds raised to $20 million. The round was led by prominent investors in the digital asset space, including Variant and Polychain Capital.
According to a press release from Hyperbolic, the newly acquired funding will enhance engineering, go-to-market strategies, and strategic teams while expanding its presence. Co-founders Jasper Zhang and Yuchen Jin aim to integrate blockchain technology into the Web3 ecosystem.
Zhang stated that Hyperbolic is creating an "AI Rainforest," designed to provide resources for innovation and collaboration within an interconnected ecosystem. Hyperbolic plans to launch its new blockchain in 2025, with this funding expected to support its development. The firm has gained trust from major AI organizations such as Quora, Hugging Face, and leading universities including Cornell and Stanford.
Hyperbolic to Expand Operations
Hyperbolic announced plans to advance its GPU Marketplace, which offers developers affordable and on-demand GPU access. The firm emphasizes maximized GPU performance and secure solutions.
The Marketplace operates on Hyper-dOS, Hyperbolic’s decentralized operating system, enabling users to rent out unused GPUs, potentially reducing operating costs by up to 75% and providing access within minutes. This flexibility caters to a diverse user base seeking Hyperbolic’s services.
Furthermore, Hyperbolic's verifiable Inference Services are utilized by approximately 30,000 users. Its proprietary Proof of Sampling (PoSP) protocol contributes to the popularity of these services, processing over 1 billion tokens daily while ensuring data and intellectual property protection.
Jesse Walden, managing partner at Variant, noted that Hyperbolic effectively addresses the "cost of trust" issue in decentralized GPU networks without compromising performance or user experience.
Other significant contributors to Hyperbolic’s Series A include Chapter One, Lightspeed Faction, Bankless Ventures, and Wintermute Ventures. Previously, Hyperbolic raised $7 million with support from Polychain Capital and Lightspeed Faction, along with $725,000 in pre-seed funding from Chapter One and Samsung Next.