Los Angeles, California, July 3rd, 2024, Chainwire
Compute Labs, a tokenized real world asset (RWA) startup, announced on Tuesday it raised $3 million in an oversubscribed Pre-Seed funding round led by Protocol Labs with participations from Blockchain Coinvestors, MH Ventures, OKX Ventures, Symbolic Capital, Ambush Capital, CMS, HashKey Capital, ArkStream Capital, Builder Capital, Amber Group, P2 Ventures, Oak Grove Ventures, Mozaik Capital, etc. Notable crypto industry leaders like Sandeep Nailwal of Polygon, Illia Polosukhin of NEAR Protocol, and Austin Federa of Solana Foundation also participated in the early funding round. Compute Labs is incubated by NVIDIA Inception VC Alliance to tokenize enterprise grade GPUs on-chain and provide open access to compute potential revenue to investors via GPU Restaking solution.
Founder and CEO Albert Z. said, “Compute is one of the most valuable commodities of our generation. Unfortunately, most regular investors don’t have the ability to invest in enterprise grade GPUs. Compute Labs changes that - we’re making it possible for everyone to invest in compute.”
The funding round for Compute Labs can signal a continued interest from investors in artificial intelligence (AI) and compute infrastructure, as similar projects like io.net and Aethir recently launched at multibillion dollar valuations.
Lacey Wisdom from Protocol Labs said, “As the leading project building in this space, Compute Labs has the right team and resources to establish the financial ecosystem of AI and compute. They are well-positioned to truly democratize access to AI investments. Protocol Labs has been building and investing in the intersection of AI & compute for years, and we are excited to partner with Albert and the team to build the AI-FI ecosystem.”
Compute Labs plans to use these funds to build out their core project team and complete development of their first round of GNFT vaults planned for mid July.
About Compute Labs
Compute Labs, the creator of the Compute Tokenization Protocol, is at the forefront of real world asset (RWA) tokenization, focusing on democratizing access to the compute economy through blockchain technology. Incubated by Nvidia Inception VC Alliance, Compute Labs is dedicated to financializing AI and enabling direct exposure to compute assets. Their platform allows for the creation of compute derivatives, offering investors a streamlined way to generate potential returns from compute—considered the currency of the future. This innovative approach not only opens up the compute commodity market to a broader audience but also empowers investors to actively participate in the burgeoning digital economy.
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