- Multicoin Capital spearheaded the $3.5 million startup funding campaign for Crunch Lab.
- CrunchDAO is a platform that allows AI researchers to take part in distributed machine learning competitions. The primary source of content for this site is the startup.
Multicoin Capital, an investment business specializing in cryptocurrency, spearheaded Crunch Lab’s $3.5 million startup funding campaign.
Factor cash, Fabric VC, and Elixir Capital all participated in the round, increasing the startup’s total cash raised to $5.3 million.
Crunch Lab is the primary developer of CrunchDAO, a platform that lets academics studying artificial intelligence compete in networked machine learning contests. As a condition of competing, CrunchDAO members can win CRNCH tokens in addition to other benefits. Along with other CrunchDAO benefits, holders of CRNCH tokens are granted governance powers.
The CEO and creator of Crunch Lab, Jean Herelle, said that the company has just started the prototype stage with two additional financial institutions to supply them with real-time data feeds. This relationship is expected to generate an additional $2 million in annual revenue for Crunch Lab this year.
According to Herelle, angel investors with experience in tech or quantitative finance helped Crunch Lab close its pre-seed round in 2021.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
