secures $30M to Tackle AI Compute Shortage with “The GPU Internet”

IN BRIEF: secured $30M in Series A funding to address the AI compute shortage with their project, “The Internet of GPUs.”, the unrivaled titan of decentralized GPU compute, proudly unveils a monumental achievement: a triumphant $30 million Series A round. Spearheaded by the visionary prowess of Hack VC and fortified by the stalwart backing of Multicoin Capital, 6th Man Ventures, M13, Delphi Digital, Solana Labs, Aptos Labs, and OKX, alongside eminent industry luminaries such as Solana founder Anatoly Yakovenk, and Aptos founders Mo Shaikh and Avery Ching, among others, this landmark funding heralds a new era of innovation and expansion.

With unwavering determination, embarks on a mission to fortify its position as the premier decentralized GPU network globally. This influx of capital will fuel the augmentation of our team, propel the exponential growth of Cloud, and steadfastly advance our ambition to solidify IO Network’s supremacy.

IO Network stands as the paragon of decentralized physical infrastructure networking (DePIN), seamlessly amalgamating underutilized GPU resources into expansive virtual clusters tailored for AI and ML enterprises. Our flagship platform, Cloud, epitomizes user-centric simplicity, empowering users to effortlessly deploy and manage GPU clusters with unparalleled efficiency and ease.

Ahmad Shahid, the luminary mind behind, asserts, “AI’s meteoric rise demands a quantum leap in computational capacity. is at the vanguard, democratizing access to GPU resources at a fraction of the cost incurred by centralized cloud services. With this infusion of capital, we are poised to revolutionize the landscape of AI accessibility.”

In the annals of our journey, accolades abound. Recognized as one of the Solana Hyperdrive Hackathon champions amidst a throng of 7,000 participants and 907 projects, continues to blaze trails. The unveiling of Cloud at Breakpoint, Solana’s prestigious community summit, in Amsterdam marked a pivotal moment in our ascent. In a mere blink since inception, our network has burgeoned to over 24,000 GPUs, orchestrating over thirty thousand compute hours for esteemed clientele like YC startup DL Software.

Ed Roman, the astute Managing Partner at Hack VC, extols’s prowess, affirming, “In an epoch marred by GPU scarcity,’s protocol emerges as a beacon of innovation, enabling clients to realize monumental savings of up to ~90% on cloud AI costs. We are honored to stand alongside, a team whose tenacity knows no bounds.”

Beyond the realm of conventional hyperscalers lies the IO Network’s structural advantage, offering a paradigm shift in cost efficiency. By incentivizing unutilized resource providers to join our ranks, defies convention, offering developers unprecedented scalability and control at a fraction of the incumbent cost.

Shayon Sengupta, the sagacious Investment Partner at Multicoin Capital, heralds’s potential to democratize GPU compute, elucidating, “In the crucible of the AI revolution, emerges as the indispensable conduit for burgeoning compute demands. Analysts woefully underestimate the voracious appetite for compute power, and stands as the linchpin to satiate this insatiable hunger.”

Bolstered by strategic alliances with Render Network and Filecoin, is poised to reshape the technological landscape. Enterprises like bear testament to the transformative power of’s decentralized cloud services.

In a testament to our unwavering commitment to community engagement, we proudly unveil The Ignition Rewards Program. Designed to incentivize active participation within our ecosystem, this program stands as a testament to our ethos of inclusivity and collaboration.

As we march steadfastly towards our anticipated IO token launch, remains resolute in our dedication to democratizing access to computational prowess. With each stride, we redefine the boundaries of possibility, propelling humanity towards a future where innovation knows no bounds.


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