IO Research Raises $30 Million in Series A Funding Round

IO Research initiated its fundraising campaign for this year's round in January, and recently completed the last segment.

DePIN Io.net, a company built on the Solana blockchain, secures $30 million in funding with a valuation of $1 billion.

🏢 IO Research, the developer of the decentralized physical infrastructure network (DePIN) io.net, has recently completed a $30 million Series A funding round. This funding round was led by Hack VC and saw contributions from Multicoin Capital, Solana Ventures, 6th Man Ventures, OKX Ventures, Aptos Labs, The Sandbox, Delphi Digital, Sebastian Borget, and more. With this latest funding, IO Research aims to expand its team, meet growing customer demand, and further develop the network.

A Billion-Dollar Valuation and the IO Token Release

💰 The latest funding round has given IO Research a fully diluted token valuation of $1 billion. This is a staggering achievement and adds significant weight to the project’s upcoming release of its native IO token in April 2024. Investors have participated in the round at a valuation of $500 million, indicating the tremendous potential and confidence in IO Research and its infrastructure network.

Empowering AI and ML Companies with io.net

🌐 Io.net, built on the Solana blockchain, is a DePIN project that focuses on aggregating GPU computing power for artificial intelligence (AI) and machine learning (ML) companies. Since its launch in November 2023, Io.net has grown to over 25,000 GPUs and has processed more than 40,000 compute hours for AI and ML firms.

🔥 Described as “the scarcest commodity in the world” by Shayon Sengupta, an investment partner at Multicoin Capital, the platform aims to democratize GPU computing. Io.net leverages the Solana blockchain to provide transparent proof-of-compute, ensuring visibility of every job and transaction on-chain. With its IO token, Io.net offers a unified transaction experience and facilitates incentive mechanisms for suppliers, customers, and users, fostering network growth and participation.

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💡 “Io.net saves customers up to 90% on their cloud AI costs. In an age where GPU chips are in high demand with global shortages, that is simply an incredible accomplishment,” said Ed Roman, managing partner at Hack VC.

Questions and Answers

Q: How does Io.net save customers up to 90% on their cloud AI costs?

A: Io.net enables customers to leverage aggregated GPU computing power, reducing their need for expensive cloud-based AI services. By providing a decentralized infrastructure network, Io.net offers a cost-effective alternative for AI and ML companies.

Q: What is the significance of the IO token release?

A: The release of the IO token will bring added functionality to the Io.net platform, offering users a unified transaction experience and incentivizing participation. Additionally, the billion-dollar valuation further establishes Io.net’s potential and market presence.

Q: How will IO Research utilize the $30 million funding?

A: IO Research plans to use the funding to expand its team from 50 to 100 individuals by the end of the year. This growth is crucial to meet increasing customer demand and continue advancing the development of the network.

Future Outlook and Investment Recommendations

Based on IO Research’s successful funding round, the release of the IO token, and the growing demand for decentralized infrastructure networks, the future looks promising for the project. With the democratization of GPU computing and the cost-saving benefits for AI and ML companies, Io.net stands to disrupt the cloud AI market.

Investors interested in the blockchain and AI industries should closely monitor the progress of IO Research and consider the potential opportunities that arise from its innovative approach. As GPU chips remain in high demand with global shortages, Io.net’s ability to offer substantial savings and efficient compute power positions it for continued growth and success.

🔗 References: 1. IO Research Completes $30M Series A Funding Round 2. Io.net: Decentralized Physical Infrastructure Network 3. Solana Ventures: Investing in Blockchain Technology 4. Democratizing GPU Computing: The Rise of Io.net 5. The Impact of AI and ML on the Cloud Computing Market

💬 Join the conversation! What do you think about IO Research’s funding round and the potential of Io.net? Share your thoughts in the comments and don’t forget to hit that share button to spread the word on social media! 🚀

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