Gensyn secures £4.8m seed investment led by Eden Block to launch its decentralised compute network.
Eden Block led the seed round to support the development of a trustless compute network for deep learning.
Gensyn develops a decentralised compute protocol designed to let developers build artificial intelligence systems on connected hardware. The technology uses cryptographic verification to remove intermediaries from machine learning workloads.
Gensyn has secured £4.8m in a seed round led by Eden Block to fund the launch of its decentralised compute network. The fresh capital follows a previously unannounced pre-seed raise of £800k in 2021. Additional participation in the seed round came from Galaxy Digital, Maven 11, Coinfund, Hypersphere, Zee Prime, and various protocol founders.
The protocol connects underutilised graphics processing units to provide affordable compute power for deep learning tasks. By leveraging blockchain verification, the network aims to bypass traditional cloud providers and reduce barriers to artificial intelligence development.
From the founder
"Deep learning has revolutionised diverse areas from facial recognition to spy plane radar operation. The core concepts emerged in the ‘50s, but the last decade has seen real world application grow sharply – and this will only increase. With this scale comes existential questions about our work, life, and identity. This, along with ballooning demand for hardware – and fat margins – is why the usual names like AWS and Azure have fought to command such high market share. The result is a market which is more expensive and places control of who-gets-what in the hands of centralised entities. We’ve spoken to a number of companies with staggering cloud compute bills who struggle to purchase outright the hardware that they need; so we designed a better way – superior on price, with unlimited scalability, and no gatekeepers."
Harry Grieve
Co-founder at Gensyn