California, Los Angeles, July 3, 2024 – Chainware Compute Labs, a tokenized real-world assets (RWA) startup, announced on Tuesday that it has raised $3 million in seed pre-funding through an oversubscribed round led by Protocol Labs. Participating investors include blockchain Coinvestors, MH Ventures, OKX Ventures, Symbolic Capital, Ambush Capital, CMS, HashKey Capital, ArkStream Capital, Builder Capital, Amber Group, P2 Ventures, Oak Grove Ventures, and Mozaik Capital. Prominent leaders in the cryptocurrency industry such as Sandeep Nailwal from Polygon, Illia Polosukhin from NEAR Protocol, and Austin Federal from Solana Foundation also participated in the early funding. Compute Labs, incubated by NVIDIA Inception VC Alliance, aims to tokenize enterprise-level GPUs on the blockchain and provide an open pathway for investors to earn potential income through the GPU Restake solution.
Albert Z., Founder and CEO, stated, “Compute is one of the most valuable commodities of our generation. Unfortunately, most retail investors do not have the ability to invest in enterprise-level GPUs. Compute Labs changes that, we make it possible for everyone to invest in compute.”
This funding round for Compute Labs may signal sustained interest from investors in artificial intelligence and computing infrastructure, similar to recent projects like io.net and Aethir that launched with valuations in the billions.
Lacey Wisdom from Protocol Labs said, “As a leading project in this field, Compute Labs has the right team and resources to build a financial ecosystem for AI and computing. They are fully capable of truly democratizing AI investments. Protocol Labs has been involved in the intersection of AI and computing for many years and we are excited to collaborate with Albert and his team to construct the AI-FI ecosystem.”
Compute Labs plans to use these funds to build its core project team and complete the development of the first round of GNFT Treasury, scheduled for mid-July.
About Compute Labs:
Compute Labs is the creator of the Compute tokenization protocol, at the forefront of tokenizing real-world assets (RWA), with a focus on democratizing the compute economy through blockchain technology. Incubated by NVIDIA Inception VC Alliance, Compute Labs is dedicated to AI financing and achieving direct exposure to compute assets. Their platform allows for the creation of compute derivatives, providing investors with a simplified way to generate potential returns from compute, which is seen as the currency of the future. This innovative approach not only opens up the compute commodity market to a wider audience but also enables investors to actively participate in the flourishing digital economy.
Contact:
Jamie Kingsley
Compute Labs
[email protected]
