After raising $7 million in July this year from Chapter One and Samsung Next, Hyperbolic raised $12 million from Variant and Polychain Capital.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Hyperbolic, a firm focused on open access artificial intelligence (AI) computing and inference services, confirmed raising a massive $12 million in a Series A funding round, bringing the total money raised by the entity to a substantial $20 million. The funding round was led by some of the biggest investors in the digital asset space – Variant and Polychain Capital.
In a press release shared with Coinspeaker, Hyperbolic revealed that it will “focus on engineering, go-to-market, and strategic teams” with the newly-raised funding and expand its presence in the space. The firm’s co-founders, Jasper Zhang and Yuchen Jin, seek to bridge the gap between the Web3 and Web3 space, with the strategic inclusion of blockchain technology.
“At Hyperbolic, we are building an AI Rainforest, where builders find the essential resources to innovate, collaborate, and thrive. Like a natural rainforest, our ecosystem is interconnected, vibrant, and regenerative, empowering creators to explore without limits,” Zhang said.
It is important to note that Hyperbolic will also debut its new blockchain in 2025 and the funding could prove to be significantly beneficial for the AI-focused firm ahead of the launch. After successfully winning the trust of major AI players like Quora, Hugging Face, OpenRouter, Black Forest Labs, Nous Research, LMSYS, and leading universities such as Cornell, UC Berkeley, NYU, and Stanford, Hyperbolic plans to go big.
Hyperbolic stated in the press release that it will advance its GPU Marketplace, providing developers with easy access to affordable and on-demand GPU access. The firm also claims to provide “maximized GPU performance, higher precision models, and secure, affordable solutions.”
The Marketplace is powered by Hyper-dOS, Hyperbolic’s decentralized operating system, allowing participants to capitalize on their GPUs which are not currently in use–allowing a reduction of up to 75% in operating costs and access in just minutes. The rental GPUs provide substantial flexibility, taking into account the broad range of users that seek access to Hyperbolic’s services.
On the other hand, Hyperbolic claims that its verifiable Inference Services are used by a massive 30,000. The firm’s proprietary Proof of Sampling (PoSP) protocol plays a major role in the popularity of these services, which already process over 1 billion tokens daily, read the release. Also, the firm said that it plays massive attention to safeguarding users’ data and intellectual property.
“Hyperbolic is the first player we’ve encountered that truly addresses the ‘cost of trust’ issue in decentralized GPU networks, without sacrificing performance, quality, and user experience,” said Jesse Walden, managing partner at Variant.
Additionally, other firms that played a crucial role in Hyperbolic’s Series A include Chapter One, Lightspeed Faction, Bankless Ventures, Wintermute Ventures, and more. Prior to this, Hyperbolic raised $7 million with backing from Polychain Capital and Lightspeed Faction. The AI-focused firm also received $725,000 pre-seed Chapter One and Samsung Next.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
