TLDR:
– Two web3 startups, Hyperbolic and Mintify, collectively raised over $10 million in VC funding this week.
– Hyperbolic raised $7 million in a seed funding round to develop an open-access AI cloud platform, led by Polychain Capital and Lightspeed Faction.
– Mintify raised $3.4 million in a funding round led by ARCA, Cumberland, Psalion, Master Ventures, Zeneca, GM Capital, and Spencer VC to improve NFT trading infrastructure.
So far this week, two web3 startups have collectively raised over $10 million in venture capital funding. Hyperbolic, a blockchain-based artificial intelligence project, raised $7 million in a seed funding round. The startup plans to develop an open-access AI cloud platform that aggregates GPU power and helps reduce computing costs for AI-based startups. The firm uses blockchain technology to maintain the security and transparency of its services. The funding round was led by Polychain Capital and Lightspeed Faction.
Mintify, an NFT startup, raised $3.4 million in a funding round to improve non-fungible token trading infrastructure. The project supports Ethereum and its layer-2 networks, with plans to expand to support other blockchain networks in the future. The recent funding brings the firm’s total funds raised to $5 million.
Other notable funding rounds in July included Riot Platforms acquiring Block Mining for $92.5 million and NPC Labs raising $18 million. Allium, a blockchain-based data platform, also raised $16.5 million in a series A funding round. These developments in the web3 space signal growing interest and investment in AI and NFT technologies.
