Nodepay Secures $7M in Total Funding to Propel AI Innovation
Deal News | Dec 27, 2024 | PR Newswire Cision Nodepay
Nodepay, a decentralized AI platform that transforms unused internet bandwidth into real-time data pipelines, has secured a total of $7 million in funding. This funding includes strategic investment from IDG Capital, which manages $23 billion in assets, and other investors such as Mythos, Elevate Ventures, IBC, and well-known angels like Matthew Tan and Yusho Liu. Nodepay utilizes its global network of privacy-protected nodes, leveraging idle internet bandwidth to offer real-time data that enhances AI inference through Retrieval Augmented Generation (RAG). This funding will support the commercialization of Nodepay's infrastructure, benefiting both its community and partner AI labs, as the company prepares for a launch on Solana. Nodepay currently serves over 1.5 million active users worldwide, signifying its leadership in the convergence of AI and blockchain technologies.
Sectors
- Artificial Intelligence
- Blockchain
- Venture Capital
- Technology Infrastructure
Geography
- Singapore – Nodepay is based in Singapore and the announcement of the funding originates from there.
Industry
- Artificial Intelligence – Nodepay is using AI to transform idle internet bandwidth into real-time data pipelines for enhanced AI training.
- Blockchain – Nodepay integrates blockchain technology to provide decentralized data infrastructure for AI inference.
- Venture Capital – Nodepay has secured funding from several VC firms for its AI platform.
- Technology Infrastructure – The platform provides a data infrastructure service that supports AI model training and development.
Financials
- $7 million – The total amount of funding raised by Nodepay.
- $23 billion – Assets under management (AUM) by IDG Capital, one of the investors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nodepay | Target Company | Company | A decentralized AI platform transforming internet bandwidth into real-time data pipelines for AI. |
| IDG Capital | Investor | Company | A strategic investor in Nodepay's recent funding round, managing $23 billion in assets. |
| Mythos | Investor | Company | An investor contributing to Nodepay's recent funding round. |
| Elevate Ventures | Investor | Company | An investor contributing to Nodepay's recent funding round. |
| IBC | Investor | Company | An investor contributing to Nodepay's recent funding round. |
| Optic Capital | Investor | Company | An investor contributing to Nodepay's recent funding round. |
| Funders.VC | Investor | Company | An investor contributing to Nodepay's recent funding round. |
| Matthew Tan | Investor | Person | Founder of Etherscan and a notable angel investor in Nodepay's recent funding round. |
| Yusho Liu | Investor | Person | Co-founder & CEO of CoinHako, and a notable angel investor in Nodepay's recent funding round. |
| Darren Nguyen | Co-founder of Nodepay | Person | Co-founder of Nodepay commenting on their mission and the funding received. |
| Eric Le | Investment Director at IDG Capital | Person | Provided a statement on Nodepay's impact on the AI economy. |