The $35 million pre-seed fundraising round for Web3 modular infrastructure company 0G Labs was successfully concluded, the company said on March 25. A news statement from 0G Labs states that over 40 crypto-native organizations participated in the round, including Blockchain Builders Fund and Hack VC. The money will be utilized to realize the goal of 0G Labs, which is to develop a full-stack blockchain-based system for developing, implementing, and utilizing artificial intelligence models. One of its platform’s main benefits over current state-of-the-art options, including Ethereum’s smart contract network, is speed, according to the press release.
0G Labs Is A Leader In On-Chain Generative AI Infrastructure
Ed Roman, Managing Partner at Hack V, praised the company, saying, “0G is positioned as the premier modular data availability solution for web3, including the next frontier of crypto-powered AI networks.” Their data availability technique is truly amazing; it has been proven to attain speeds that are 1000x+ faster and less expensive than ETH L1. As the team moves closer to the main net, we’re excited to watch their ecosystem flourish and are honored to be their partners in this endeavor.” Usually, a startup’s initial investment round is called pre-seeding. One of the largest initial startup funding for a business working at the nexus of Web3 and artificial intelligence (AI) is represented by this $35 million emerging round. In contrast, on August 22, 2016, OpenAI, the firm that created ChatGPT and Dall-E, raised $120,000 during its pre-seed round. Since then, OpenAI has grown to be valued at almost $80 billion as of February 2024 thanks to the success of its generative AI technology.
