According to BlockBeats, on September 14, Grass Network, an AI and data project, completed a new round of financing led by Hack VC, with participation from Polychain Capital, Delphi Digital, Lattice and Brevan Howard Digital. The amount of financing has not yet been disclosed.
According to people familiar with the matter, the new round of financing brings Grass's valuation to nearly $1 billion. Grass completed a $3.5 million seed round of financing in December last year, led by Polychain Capital and Tribe Capital.
Grass aims to redefine the incentive structure of the Internet by allowing users to share unused Internet bandwidth resources. The network has more than 2 million users running nodes, capturing a large amount of data for AI models.
Grass' infrastructure gives the team the advantage of building the first user-owned Internet-scale web crawler. Currently, only Google and Bing have the ability to crawl the entire Internet. Grass' goal is to build the first user-owned knowledge graph of the entire Internet.