Venture capital firm Polygon Ventures and digital asset investment firm Amber Group jointly lead a $20 million funding round for Edge Matrix Chain.
Edge Matrix Chain, a pioneering blockchain platform, has announced the successful completion of a $20 million funding round. The funding round was led by Polygon Ventures and Amber Group, with participation from One Comma, Cyberrock Venture Fund, Candaq Fintech Group, Hameem Raees Chowdhury, Kapley Judge and Associated Corporations, and Alex Goh, the former General Manager of AWS Greater China.
The fresh capital will be used to accelerate the launch of Edge Matrix Chain's layer-1 blockchain for AI applications. The blockchain is designed specifically to support AI applications by providing a decentralized infrastructure that integrates AI capabilities intrinsically at the blockchain protocol level.
The EMC Network, a part of Edge Matrix Chain, is based on a peer-to-peer network-based edge computing protocol. It includes features like smart contracts, decentralized storage, and consensus mechanisms for transaction verification. Users can share computing resources and process data through the EMC Network.
The EMC Network aims to provide computing resources for crypto AI projects. The EMC blockchain is designed to scale and support GPU compute for crypto AI projects. Edge Matrix Chain plans to create a new class of DeFi asset class backed by tokenized real-world GPU resources.
The co-founders of the EMC Network are Alex Goh, Chairman of EMC Foundation, and BK Khur, CTO of EMC. BK Khur was part of the Digital Transformation team at Deloitte Consulting.
Edge Matrix Chain has set aside $5 million in rewards for an incentive program. The incentive program will be distributed across two stages and was launched in mid-August.
The new DeFi class created by Edge Matrix Chain utilizes "tokenized H100 Tensor Core GPUs developed by Nvidia."
With this funding, Edge Matrix Chain aims to create a secure, scalable, and efficient AI-powered service and application ecosystem. The blockchain's AI-focused design, decentralized trust and security, smart contract frameworks for AI, scalability, and efficiency, and integration with AI infrastructures make it an ideal foundation for AI ecosystems.
The funding round was announced by Edge Matrix Chain on Thursday. This investment marks a significant step forward in Edge Matrix Chain's mission to merge blockchain's trust architecture with AI's processing needs, fostering secure, transparent, and efficient AI service deployment and usage.
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