Gensyn AI Secures $43 Million in Series A Funding for Decentralized Machine Learning Compute Protocol

UK-based Gensyn AI has secured $43 million in Series A funding led by a16z crypto, with additional contributions from CoinFund, Canonical Crypto, Protocol Labs, Eden Block, and several angel investors. Co-founded in 2020 by Ben Fielding and Harry Grieve, Gensyn AI aims to empower developers to create AI tools using a decentralized machine learning compute protocol on a pay-as-you-go model.

The platform seeks to connect all machine learning-capable compute hardware worldwide, including GPUs and CPUs, to make it accessible to engineers, researchers, and academics. Fielding stated that the biggest challenge is ensuring that the computational task is executed correctly.

Gensyn will be tested on Kusama and later launched on a Polkadot parachain with its TGE utility token.