IO Research, the developer of io.net, a Solana-based decentralized physical infrastructure network, raised $30m in Series A funding.
The round was led by Hack VC with participation from Multicoin Capital, 6th Man Ventures, Solana Ventures, OKX Ventures, Aptos Labs, Delphi Digital, and The Sandbox.
The company intends to use the funds to continue to expand operations and its development efforts.
Led by Ahmad Shadid, IO Research is the company behind Io.net, a DePIN project built on Solana that focuses on aggregating GPU computing power for AI and ML companies. With io.net, teams can scale their workloads across a network of GPUs with minimal adjustments. The system handles orchestration, scheduling, fault tolerance, and scaling and supports a variety of tasks such as preprocessing, distributed training, hyperparameter tuning, reinforcement learning, and model serving. It is designed to serve general-purpose computation for Python workloads.
Launched in November 2023, It has already gained significant traction, with over 25,000 GPUs and processing 40,000+ compute hours for AI and ML firms.
FinSMEs
08/03/2024