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Gensyn - Series A
Overview
Funding Date
June 12, 2023
Financing amount
$43M
Valuation
--
Catagory
Subcategory
About Gensyn - Series A
Gensyn, a provider of blockchain-based computing resources for artificial intelligence platforms (AI), has secured a $43 million, Series A funding round, led by venture capital giant a16z.
With its latest round, Gensyn has raised more than $50 million and the company said it would use the fresh capital to accelerate the introduction of the protocol and to expand its workforce, including the addition of protocol and machine learning engineers. Prominent investment firms CoinFund, Canonical Crypto, Protocol Labs, Eden Block and a variety of AI and crypto venture capitalists and angels joined a16z in the round.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2009 | 143 | businessplans@a16z.com | ||
| Fund | United States of America | 2015 | 89 | info@coinfund.io | ||
| Fund | United States of America | 2021 | 16 | -- | ||
| Lab | United States of America | 2014 | 69 | -- | ||
| Fund | Israel | 2017 | 18 | hello@edenblock.com |
Founders & Team
Harry Grieve
Ben Fielding
Company Profile / Project Introduction
The Gensyn network is the Machine Learning Compute Protocol that unites all of the world's compute into a global machine learning supercluster, usable by anyone at any time. The U.K.-based company's protocol enables developers to build AI systems on smaller data centers, personal gaming computers and other connected hardware and to pay on demand. Gensysn uses a cryptographic verification network that without the need for intermediaries allows users to determine that machine learning work shared over the protocol has been finished correctly.