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Grass Network Secures New Funding Round Led By Hack VC

14/09/2024 00:03

According to BlockBeats, on September 14, sources revealed that AI and data project Grass Network has completed a new round of financing led by Hack VC. The round also saw participation from Polychain Capital, Delphi Digital, Lattice, and Brevan Howard Digital. While the exact amount of the funding has not been disclosed, insiders indicated that this latest round has brought Grass Network's valuation to nearly one billion dollars. Previously, BlockBeats reported that Grass Network had raised $3.5 million in a seed round in December of last year, led by Polychain Capital and Tribe Capital. Grass Network aims to redefine internet incentive structures by allowing users to share unused internet bandwidth resources. Currently, the network operates with over two million users running nodes, which has enabled the collection of vast amounts of data for AI models. The infrastructure of Grass Network also positions the team to create the first user-owned internet-scale web crawler. Presently, only two companies, Google and Bing, possess the capability to crawl the entire internet, a function that underpins their trillion-dollar businesses. Grass Network's goal is to replace these giants by developing the first user-owned comprehensive internet knowledge graph.

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