A company that is changing the way the world mines bitcoin

Coinpaprika 2024-12-16 08:31:29

Big Wins: COSIMO and Hyperbolic Secure Major Funding

COSIMO Digital announced a major milestone this week, securing $25 million in funding following its rebrand from COSIMO Ventures. A $12 million strategic round, led by former Bridgewater executive Des Mac Intyre, will focus on building partnerships and driving growth in the rapidly expanding digital asset space. The rebrand brings all of COSIMO’s services under a unified name, reflecting its comprehensive approach to blockchain and Web3 development. Managing partner Ciaran Hynes emphasized that this shift aligns with the company’s goal of delivering a seamless suite of services. These include investment funds, custody solutions, advisory support, broker-dealer services, and blockchain development. Rob Frasca, a key figure at COSIMO, noted that the firm’s expertise in tokenization positions it as a leader in helping investors capitalize on blockchain’s transformative potential. By consolidating its offerings, COSIMO aims to better serve both institutional and individual clients. Hyperbolic also made headlines with its $12 million Series A funding round, bringing its total funding to $20 million. Variant Fund and Polychain Capital led the round, which CEO Jasper Zhang described as pivotal for the company’s vision. The funds will go toward creating an "AI rainforest," an interconnected ecosystem designed to foster innovation for researchers and developers. Zhang expressed that the new investment will provide Hyperbolic with a clearer strategy, enabling it to transition from its earlier, scrappier phase to a more refined and confident approach. This ecosystem aims to deliver scalable, reliable, and accessible infrastructure for AI growth and collaboration. Other notable developments include Moonray’s $10 million funding round, supported by Republic Crypto and Animoca Brands, and TON Ventures raising $5 million from OKX Ventures. Yei Finance secured $2 million in seed funding led by Manifold, while Lava closed a Series A led by Funders Fund and Khosla Ventures. Additionally, Crypto.com expanded its portfolio with the acquisition of Orion Principals Limited, a move that underscores the growing interest in blockchain-backed innovation. These funding announcements highlight the dynamic growth of the digital asset and tech sectors, with firms focusing on creating robust ecosystems and infrastructure. The strategic investments across blockchain, Web3 , and AI demonstrate the sector's potential to reshape industries and empower both investors and developers in a rapidly changing landscape.

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