0G Labs raises US$35M pre-seed funding from crypto leaders

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0G Labs, a web3 infrastructure firm,” has raised $35 million in a pre-seed round. The funding supports 0G’s mission create a modular AI blockchain is being created to accelerate speed and cost efficiency. 0G’s may release their own tokens in the future. 0G Labs, a web3 infrastructure firm, secured $35m in pre-seed funding from over 40 leading crypto institutions, including Hack VC and Stanford Builders Fund. Fundings from other companies As the crypto space heats back up, so has funding for new startups. 0G Labs, known as the pioneers of the first Modular AI Chain, just bagged a whopping $35 million in pre-seed funding.

This huge injection of money has been carefully gathered from a strong lineup of over 40 crypto-native organisations. These include Hack VC, Stanford Builders Fund, and many other Web3 royalties. Also read: Binance executive escapes Nigerian custody Also read: FTX to sell majority of stake in Anthropic for US$884 million 0G Labs 0G, short for ZeroGravity, is creating a modular AI blockchain that aims to alleviate the pain points of on-chain AI applications in the web3 ecosystem, like speed and cost efficiency. Competitors include Celestia and EigenLayer, which are also focused on modularity.

“Our goal is we can now enable any blockchain to be as performant and inexpensive as a web2 application,” said Michael Heinrich, co-founder of 0G. “That’s the benefit of having this modularity approach.” 0G Team s The brains behind 0G Labs aren’t simply tech enthusiasts. They’re a supergroup of sorts, with past lives at titans of industry like Microsoft, Bain, and Bridgewater Associates, they‘ve graduated from prestigious academic schools such as Harvard Business School and Stanford University. Their resumes are as diverse as they are impressive, featuring Olympic gold medals in Informatics and top computer science paper awards.

The initial capital will be used to hire engineers and build up 0G’s market functionality, community, and ecosystem. As of right now, 0G doesn’t have its own token, but “it is a web3 company,” Heinrich said, “so we will release a token in the future, but can’t say more at the moment.”