In the world of artificial intelligence and blockchain technology, io.net has made a significant stride by securing $30 million in funding from investors such as Hack VC, Multicoin, 6th Man Ventures, and OKX Ventures. The team behind io.net, IO Research, has developed a decentralized GPU network that allows users to redistribute unused GPUs to power resource-intensive AI companies.
This latest funding round highlights the growing interest in AI-driven innovation, particularly in the cryptocurrency and blockchain space. Other AI-related blockchain companies have also been attracting investor attention, such as Ritual, which raised $25 million in seed funding to provide Web3 companies with on-chain proof of interactions using AI models, and Sahara, a decentralized AI network that recently raised $6 million in a seed round.
Sahara, which was backed by Polychain Capital and other prominent venture capital firms like Sequoia and Matrix Partners, aims to bring decentralized AI technology to life. Additionally, Utila, an enterprise crypto wallet, has raised $11.5 million in a seed round led by NFX, Wing VC, and Framework Ventures, among others. Utila’s mission is to make institutional cryptocurrency wallets more user-friendly and accessible for customers.
In other notable fundraises, payments app Baanx secured $20 million in a Series A round, Keyring raised $6 million in a seed round for its compliance platform, and Zama received $73 million in Series A funding to advance its FHE technology. These developments underscore the growing intersection of AI, blockchain, and cryptocurrency, signaling a new era of innovation and investment in the tech industry. Stay updated on the latest developments by subscribing to our free daily newsletter.