Successfully Raises $30M in Series A Funding Round

The emerging Depin platform on the Solana ecosystem,, successfully raised $30 million in Series A funding on March 5, 2024.

Azcnews Breaking

According to an announcement by last Tuesday, they successfully raised $30 million in their Series A funding round, led by Hack VC, with participation from Multicoin Capital, 6th Man Ventures, Solana Ventures, OKX Ventures, Aptos Labs, Delphi Digital, The Sandbox, Sebastian Borget of The Sandbox, and many other partners.

This latest funding round valued at $1 billion.

Sources indicate that the funding round was conducted in tranches, with the structure including SAFEs and token warrants at a 1:1 ratio. Ahmad Shadid, the founder and CEO of, confirmed this information, emphasizing that all investors must hold the token for at least one year.


With the new funding, IO Research plans to expand its team from about 50 to 100 people by the end of the year to meet customer demand and continue building the network. The project, based on Solana, focuses on providing GPU computing resources for artificial intelligence (AI) and machine learning (ML) companies at lower costs and faster lead times.

Through the Solana blockchain, commits to providing transparent computing evidence and making every task and transaction clear on the chain. The IO token offers a consistent trading experience for users and encourages interaction between providers, customers, and users.

Ed Roman, managing partner at Hack VC, emphasized that helps customers save up to 90% on cloud AI costs and appreciates the project’s remarkable achievements in the context of a global shortage of GPU chips.

Related: Analyst Predicts Solana (SOL) to Surge to $333 USD

Introduction to the Platform

Interface is a decentralized physical infrastructure project (DePIN) based on Solana, focusing on aggregating GPU resources for artificial intelligence (AI) and machine learning (ML) companies. The project was founded by Ahmad Shadid, who also serves as the CEO of

  • Ignition Program: has just unveiled the Ignition program, a promotional program aimed at promoting the development of the GPU network and building the community. In this program, network providers will be rewarded for all activities from November 2023 onwards. The program will reward users based on their provision of GPU to the network. Factors considered include hours of job completion, node bandwidth, GPU model, and uptime.
  • Goal: aims to build an “Internet of GPU” and address the shortage of GPU computing capacity caused by the AI ​​boom. The project uses the Solana blockchain to provide transparent computing evidence and help all tasks and transactions between providers and consumers displayed on-chain.
  • Development of Since its launch three months ago, has grown to over 25,000 nodes, serving over 47,000 hours of computing, and paying over $300,000 from customers to network providers. The demand for GPU computing capabilities for AI applications is alarmingly increasing. contributes to providing GPU resources for AI and ML projects, helping to drive the development of information technology in the future.


(3 votes)
  1. Avatar of Abdul Rosheed
    Abdul Rosheed

    Ok it’s good

  2. Avatar of

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    • Avatar of

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  3. Avatar of

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