AI-Driven Blockchain Innovator IO Research Clinches $30M in Series A Funding

  • Editor
  • March 6, 2024
    Updated
AI-Driven-Blockchain- Innovator-IO-Research-Clinches-$30M-in-Series-A-Funding

In an era where artificial intelligence (AI) and blockchain technology are revolutionizing industries, AI-Driven Blockchain Innovator IO Research Clinches $30M in Series A Funding.

March 5 (Reuters) – IO Research, an artificial intelligence (AI)-focused blockchain startup, said on Tuesday it raised $30 million in a Series A funding round from investors including Hack VC, Solana Labs, and cryptocurrency exchange OKX.

This significant investment underscores the growing confidence in the potential of AI-enhanced blockchain solutions to redefine the technological landscape.

Led by Hack VC, the funding round witnessed participation from a host of prominent investors, reflecting a strong endorsement of IO Research’s vision and its commitment to spearheading innovation in the blockchain domain. The startup’s ambitious project, the IO.Net, aims to create the world’s largest decentralized GPU network, offering a robust solution to the AI compute shortage that challenges the tech industry.

“Industry analysts are still radically underestimating how much compute power will be needed to fuel the next generation of AI (applications),” said Shayon Sengupta, investment partner at Multicoin Capital, which participated in IO’s funding round.

This infusion of capital is set to catalyze IO Research’s development efforts, facilitating the expansion of its decentralized GPU platform. By leveraging blockchain technology, the company is poised to enhance the accessibility and efficiency of AI compute resources, democratizing access to essential technology for innovators and developers worldwide.

The success of IO Research’s funding round is a testament to the potential of combining Artificial intelligence with blockchain technology to create transformative solutions.

As the startup continues to grow its decentralized network, it not only addresses the immediate challenges of AI compute shortages but also paves the way for future advancements in the field.

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IO Research’s achievement marks a significant milestone in the intersection of AI and blockchain technology, heralding a new era of decentralized computing power.


With its innovative approach and the backing of substantial investment, the startup is well-positioned to lead the charge in overcoming the hurdles faced by the AI sector, especially in terms of computational resources.

As IO Research embarks on this exciting journey, the tech community eagerly anticipates the developments that will emerge from its endeavors. The startup’s success in securing Series A funding is a clear indication of the promising future that lies at the intersection of AI and blockchain, promising to unlock new possibilities for the digital age.

For more of such latest news, visit our AI-news at allaboutai.com.

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Dave Andre

Editor

Digital marketing enthusiast by day, nature wanderer by dusk. Dave Andre blends two decades of AI and SaaS expertise into impactful strategies for SMEs. His weekends? Lost in books on tech trends and rejuvenating on scenic trails.

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