Official announcement from Hyperbolic Labs or reputable news sources

Hyperbolic Labs Raises $7 Million in Seed Funding to Become Leading Open-Access AI Cloud

Jul 30, 2024, 01:40 PM

Hyperbolic Labs, a blockchain-based AI cloud platform, has successfully raised $7 million in seed funding led by Polychain Capital and Lightspeed Faction. The company aims to revolutionize the use and training of AI models by building an open-access AI ecosystem and economy. The funding will support Hyperbolic Labs' goal of creating a decentralized and collaborative AI infrastructure, which contrasts with traditional centralized AI models. Hyperbolic Labs is also a vital component of Manta AI, a collaborative effort driving full-scale AI development on Manta Pacific. The company has received significant support from various investors, including BanklessVC and Mod Cap, who emphasize the importance of open and decentralized AI development. Hyperbolic Labs aims to become the leading Open-Access AI Cloud.