Two Web3 startups, Hyperbolic and Mintify, collectively raised over $10 million in venture capital funding this week. This article details their innovative projects and future plans.
Points
- Hyperbolic raised $7 million to develop an open-access AI cloud platform.
- Mintify secured $3.4 million to support its trading platform for professional traders and newcomers.
- Both startups plan to use the funds to enhance their product offerings and expand their teams.
- The funding rounds attracted significant interest from prominent investors.
This week, two Web3 startups, Hyperbolic and Mintify, have successfully raised over $10 million in venture capital funding, reflecting the growing investor interest in innovative blockchain and AI projects.
Hyperbolic Raises $7 Million
Hyperbolic announced the successful raise of $7 million, aimed at developing an open-access AI cloud platform. This platform will aggregate GPU power to help reduce computing costs for AI-based startups, leveraging blockchain technology to ensure security and transparency.
We are thrilled to announce a $7M raise to become the leading Open-Access AI Cloud 🤘🏼🌪️
The funding round was led by Polychain Capital and Lightspeed Faction, with participation from LongHash, Bankless Ventures, Republic Digital, Chapter One, Nomad Capital, CoinSummer Labs, and Third Earth Capital. Notable angel investors, including former Coinbase CTO Balaji Srinivasan, Polygon co-founder Sandeep Nailwal, and Near Protocol co-founder Illia Polosukhin, also contributed.
Hyperbolic plans to use the fresh funds to develop its first product, an AI inference service, and to establish an ecosystem for developers. Additionally, the company aims to strengthen its team with new hires.
Mintify Raises $3.4 Million
Mintify, another promising Web3 startup, raised $3.4 million in its latest funding round. The platform is designed for both professional traders and those new to the trading scene. According to CEO Evans Varsamis, Mintify aims to provide a comprehensive trading experience that caters to a wide range of users.
The announcement did not specify the exact use of the funds, but it is expected that Mintify will enhance its platform capabilities and expand its team to support growth and innovation.
Other Funding R
ounds in July
July has been a busy month for Web3 startups, with several other notable funding rounds contributing to the vibrant ecosystem. These investments signal strong confidence in the future of blockchain technology and its applications across various sectors.
Key Takeaways
- Hyperbolic’s $7 million funding will support the development of an AI cloud platform, enhancing computing efficiency for AI startups.
- Mintify’s $3.4 million raise aims to expand its trading platform, catering to both seasoned traders and newcomers.
- The participation of prominent investors underscores the growing interest in innovative Web3 solutions.
- These funding rounds reflect the increasing momentum and potential within the Web3 space.
解説
- Hyperbolic’s focus on an open-access AI cloud platform aligns with the broader trend of democratizing technology and making advanced computing resources more accessible.
- Mintify’s comprehensive trading platform highlights the importance of user-friendly solutions in the evolving crypto trading landscape.
- The substantial investments in these startups demonstrate strong market confidence and the belief in the transformative potential of Web3 technologies.
- Continued funding and innovation in the Web3 sector are crucial for driving technological advancements and mainstream adoption.