What is Gensyn?
Founded in 2020 and headquartered in London, United Kingdom, Gensyn has developed a novel network that connects Graphics Processing Units (GPUs) to a blockchain. This infrastructure allows GPU owners to earn financial returns by dedicating their processing power to deep learning training tasks submitted by users. Gensyn's blockchain-based system provides a verifiable mechanism to ensure the correct execution of these tasks, with payments facilitated through a proprietary token. This model addresses the growing demand for computational resources in artificial intelligence and machine learning, offering a decentralized alternative for GPU access and utilization.
How much funding has Gensyn raised?
Gensyn has raised a total of $49.5M across 2 funding rounds:
Angel/Seed
$6.5M
Series A
$43M
Angel/Seed (2022): $6.5M with participation from CoinFund, Maven 11 Capital, and Eden Block
Series A (2023): $43M led by Andreessen Horowitz
Key Investors in Gensyn
Andreessen Horowitz
Andreessen Horowitz is a prominent venture capital firm founded in 2009, known for investing in both early-stage startups and established growth companies, with a significant focus on technology and innovation.
CoinFund
CoinFund is a blockchain-focused investment firm established in 2015, dedicated to advancing digital assets and decentralized finance through strategic investments in venture and liquid opportunities within the blockchain sector.
Maven 11 Capital
Maven 11 Capital is a crypto-native fund that actively partners with founders redefining ownership through open crypto networks, emphasizing technical fluency and hands-on support for innovative ventures.
What's next for Gensyn?
The recent major strategic investment in Gensyn, following its Series A financing, signals a pivotal growth phase for the company. This substantial capital infusion is expected to accelerate the expansion of its decentralized GPU network and enhance its blockchain verification technology. As Gensyn continues to scale its operations, it is poised to capture a larger share of the burgeoning AI infrastructure market, further solidifying its position as a key player in the intersection of blockchain and deep learning.
See full Gensyn company page
