According to BlockBeats, on August 15, The Block reported that Crunch Lab, a core contributor to the AI platform CrunchDAO, completed a $3.5 million seed round of financing, led by Multicoin Capital, with participation from Factor Capital, Fabric VC and Elixir Capital. Crunch Lab's total financing amount reached $5.3 million.
Crunch Lab is a core contributor to CrunchDAO, a platform for AI researchers to participate in distributed machine learning competitions. In addition to other rewards, CrunchDAO members can earn CRNCH tokens by participating in competitions. CRNCH tokens give holders governance rights and other benefits of CrunchDAO.
