Blockchain-based AI platform Gensyn raised $43 million in a Series A funding round led by a16z.
Participants included CoinFund, Canonical Crypto, Protocol Labs, Eden Block, and other venture investors.
The London-based startup is developing a marketplace protocol that enables owners of small data centers and individual devices to provide computational power for machine learning. Buyer-seller relationships will be regulated on the blockchain.
Gensyn acknowledges the AI boom sparked by ChatGPT's success, which has led to increased demand for computational resources.
According to a16z, Gensyn's solution can increase available machine learning power by 10-100 times.
"Artificial intelligence lays the foundation for the next industrial revolution, and fulfilling its potential requires massive computational power," emphasized Gensyn co-founder Ben Fielding.
Gensyn's open infrastructure aims to connect AI model creators with providers of necessary computational power.
