Gensyn Secures $6.5 Million in Seed Round
Gensyn, a London, UK-based AI company closed a $6.5 million in (£4.92m) seed round of funding led by Web3 infrastructure VC Eden Block.
Gensyn, a London, UK-based AI company closed a $6.5 million in (£4.92m) seed round of funding led by Web3 infrastructure VC Eden Block.
Other participants in the seed round include Galaxy Digital, Maven 11, Coinfund, Hypersphere, and Zee Prime.
The funding will go towards the launch of Gensyn’s decentralized computer network for training AI models.
Company: Gensyn
Raised: $6.5M
Round: Seed Round
Funding Month: March 2022
Lead Investors: Eden Block
Additional Investors: Galaxy Digital, Maven 11, Coinfund, Hypersphere, and Zee Prime
Company Website: https://www.gensyn.ai/
Software Category: Compute network
About the Company: Founded in 2020, Gensyn is the hyper-scale, cost-efficient compute protocol for the world's deep learning models. Based in London, the Gensyn network connects GPUs and provides their owners with a financial return for running deep learning training tasks submitted by users. Using a blockchain network, Gensyn has created a way to verify that the deep learning tasks have been performed correctly, triggering payments via a token.
Source: https://www.uktech.news/ai/gensyn-ai-startup-funding-20220321
