The AI and data project Grass Network has successfully completed a new round of financing, led by Hack VC with participation from prominent investors including Polychain Capital, Delphi Digital, Lattice, and Brevan Howard Digital. While the specific funding amount remains undisclosed, sources suggest that this new round has significantly boosted Grass’s valuation to nearly $1 billion.
This achievement follows the company’s previous seed round of financing in December 2023, which raised $3.5 million led by Polychain Capital and Tribe Capital.
Grass Network is dedicated to revolutionizing the incentive structure of the Internet by empowering users to share their unused bandwidth resources. With a user base of over 2 million running nodes, Grass has amassed a substantial amount of data, which is invaluable for training AI models.
The company’s infrastructure also positions it to develop the first user-owned Internet-scale web crawler. Currently, only Google and Bing possess the capability to crawl the entire Internet, forming the foundation of their multi-billion dollar businesses. Grass aims to challenge this duopoly and create a knowledge graph for the entire Internet that is owned and controlled by its users.
This latest funding round underscores the growing confidence in Grass Network’s potential to disrupt the traditional internet landscape and redefine the way data is collected and utilized. As the company continues to expand its user base and develop innovative solutions, it is well-positioned to become a major player in the AI and data industry.