CDS Startups Gensyn AI Raises $43 Million in Funding Round for Decentralized Machine Learning
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Gensyn AI Raises $43 Million in Funding Round for Decentralized Machine Learning

Gensyn AI raises $43 million in a funding round.

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Gensyn AI Raises $43 Million in Funding Round for Decentralized Machine Learning

Gensyn AI, a UK-based company, wants to enable developers to produce AI products on a pay-as-you-go basis. In this direction, on Sunday, Gensyn AI disclosed receiving $43 million in Series A funding, led by a16z crypto.

Gensyn AI Raises $43 Million in Funding Round for Decentralized Machine Learning

According to Ben Fielding, Gensyn AI co-founder, the goal is to link and make available to engineers, researchers, and academics all of the machine learning-capable compute gear in the globe that is capable of performing machine learning training work, including GPUs and CPUs.

The major issue there, according to Fielding, is ensuring that the computational operation carried out on the apparatus has been carried out correctly.

That’s the big secret sauce behind Gensyn—we’ve solved that problem for machine learning training specifically,

Fielding

About the Fundraising Round

Along with several angel investors, other companies participating in the financing round with a16z include CoinFund, Canonical Crypto, Protocol Labs, and Eden Block.

We share Harry and Ben’s belief in democratizing AI and ensuring that the massive potential productivity gains are available to any talented entrepreneur who wants to train a new model at scale, and are happy to partner with them on such an important endeavor,

Ali Yahya, A16z Crypto General Partner

According to Grieve, the funds will be used to increase the Gensyn team and pay for production expenses, including a test network rollout later this year.

About Gensyn AI

Harry Grieve and Ben Fielding established Gensyn in 2020. Grieve claims that Gensyn is a layer 1 proof-of-stake blockchain built on the Substripe technology.

Essentially, Gensyn is a decentralized machine learning compute protocol,

Fielding
Sources:decrypt
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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