Distributed AI computing network Gensyn completes $43 million Series A funding, led by a16z

ChainCatcher news, according to CoinDesk, the distributed AI computing network Gensyn has completed a $43 million Series A funding round, led by a16z, with participation from CoinFund, Canonical Crypto, Protocol Labs, Jsquare, Eden Block, and other angel investors. The funds will be used to accelerate the launch of the protocol and expand its workforce, including adding protocol and machine learning engineers.

Gensyn enables developers to build AI systems on smaller data centers, personal gaming computers, and other connected hardware, with pay-as-you-go pricing. Gensyn uses a cryptographic verification network that allows users to verify whether the machine learning tasks shared through the protocol have been completed correctly, without intermediaries.

According to RootData, in March 2022, Gensyn completed a $6.5 million seed funding round, led by Eden Block, with participation from Galaxy Digital, Maven 11, CoinFund, Hypersphere, Zee Prime, Entrepreneur First, Jsquare, Counterview Capital, 7percent Ventures, Id4 Ventures, and angel investors from DeepMind, Livepeer, Pocket Network, Centrifuge, Cambridge University, Twitter, Google, and Parity Technologies. (source link)