March 26, 2024
0G Labs, a web3 infrastructure firm, has raised $35 million in a pre-seed round to develop a modular AI blockchain. The funding round was led by Hack VC, with participation from Alumni Ventures, Animoca Brands, Delphi Digital, and many other crypto-native institutions. This substantial funding is intended to address the challenges of on-chain AI applications in the web3 ecosystem, such as speed and cost efficiency.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
---|---|---|---|---|---|
0G Labs | Mar 25 2024 | $35M | Pre-Seed | $35M | Artificial Intelligence (AI), Web3 |
0G Labs, also known as ZeroGravity, is focused on creating a modular AI blockchain that allows developers to select components for building blockchain systems or applications. This modularity approach offers the flexibility to configure blockchain components according to specific needs, improving performance and reducing costs. Unlike monolithic blockchains like Ethereum, which integrate data and consensus layers into a single structure, modular blockchains provide more customization and scalability.
The team at 0G Labs includes co-founders Michael Heinrich, Ming Wu, Fan Long, and Thomas Yao. Heinrich previously founded garten, a company offering workplace wellness services, while Wu and Long were part of the founding team at Conflux Network, and Yao was a founding partner at IMO Ventures.
The new funding will be used to hire engineers and build out 0G Labs' market functionality, community, and ecosystem. The company plans to launch its blockchain on the mainnet by the third quarter of this year. The modular AI blockchain developed by 0G Labs aims to achieve high throughput, with a target rate of 50 Gbps, compared to competitors' 1.5 MBps. This high throughput is essential for applications like on-chain AI and gaming, which require fast data processing to be cost-effective.
About 0G Labs
0G Labs is a technology startup focused on developing solutions in blockchain technology and decentralization. The company is building a modular AI blockchain to improve performance and cost efficiency for on-chain applications in the web3 ecosystem.
0G Labs' approach to modularity also aims to enable new use cases in the blockchain space, including on-chain AI, on-chain gaming, and high-frequency decentralized finance (DeFi). The company plans to support layer 2 blockchains and decentralized applications that require high bandwidth, aiming to attract hundreds of millions of users.
Website: https://0g.ai/
X Account: https://x.com/0G_labs
X Followers today: 260.5k
About Investor
Investor: Hack VC
Description: Hack VC is a venture capital firm focused on investing in early-stage blockchain and cryptocurrency projects. The firm supports the development of technologies that enhance efficiency and scalability in the financial system.
Location: United States
Website: https://hack.vc/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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