Hyperbolic is a decentralized AI computing startup that offers inference and computation services. It announced Tuesday, it had raised $12 Million in Series A financing led by Polychain Capital and Variant.
A wide range of investors participated, including Lightspeed Faction Bankless Ventures and Wintermute Ventures. Sreeram Kanan, EigenLayer’s CEO and Alex Atallah, OpenRouter’s CTO were among the angel investors.
In a press release, the company stated that this funding brought the total amount raised by the company to $20,000,000. It is now looking to increase its presence in the rapidly growing AI and Web3 industries.
San Francisco-based firms are building decentralized GPU markets and providing verifiable AI Inference Services, to address what they see as an urgent shortage of computing power that is affordable for researchers and developers.
Hyperbolic’s GPU Marketplace allows renters to save up to 75% on their GPU rentals while suppliers can monetize GPUs that are idle. Hyper-dOS powers the platform, which is its decentralized OS.
According to the company, its proprietary Proof of Sampling Protocol (PoSP)-based inference services can handle over one billion tokens a day, for up to 30,000 Web2 customers.
Hyperbolic was founded by Jasper Zhang and Yuchen Jing, two AI researchers and mathematicians. They aim to combine fragmented AI workflows with their solutions.
“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,” Jesse Walden, managing partner at Variant, said. “With Jasper and Yuchen’s deep expertise spanning both crypto and AI, they are uniquely equipped to transform decentralized compute marketplaces for AI models.”
It plans to create its own blockchain by 2025 in order to promote collective governance and AI infrastructure.
Hugging Face and Quora are just a few of the major AI companies that use Hyperbolic.
The money will go to the expansion of its AI decentralized platform and engineering teams, as well as the growth of its marketing and sales departments.