Hassan Maishera
0G, a leading Web3 modular infrastructure firm, announced on Tuesday, March 26th, that it has raised over $35 million in its pre-seed funding round. The funding round was led by Hack VC and Stanford Builders Fund, Alliance.
In a press release shared with Cryptowisser, the team said the funding round also saw participation from several other Web3 VCs including Orange, Symbolic Capital, Delphi Digital, Dao5, Gumi, Dispersion Capital, OKX Ventures, GSR, DWF, Animoca, No Limit Holdings, Arca, NGC, Paramita, Foresight, Crypto Banter, Joe Takayama, Santiago Santos, and Abstract Ventures.
0G intends to create a decentralized cap table, allowing the platform to collaborate with many influential investors in the space. The company is focused on infrastructure scaling through modularity and solving the key problems needed to implement on-chain AI applications in the Web3 ecosystem.
0G, shorthand for ZeroGravity, revealed that it has eliminated the forced trade-off of scalability vs. security by developing a data availability layer with both a general-purpose storage layer as well as a data publishing lane.
Furthermore, 0G improves its ability to scale up and handle large data flows since it separates these key data availability tasks. Thus, creating a Data Availability System that can guarantee users that a given piece of data is available to anyone who wishes to retrieve it.
This achievement, coupled with high security and throughput, 0G paves the way for on-chain AI, which will be key in developing trustworthy AI due to the chain’s immutability and transparency. Its ability to record 50 gigabytes per second speed while competitors process 1.5 megabytes per second means that 0G is 50,000x faster than competitors while maintaining a cost that is 100x cheaper.
Ed Roman, Managing Partner at Hack VC commented that,
“0G is positioned as the premier modular data availability solution for web3, including the next frontier of crypto-powered AI networks. Their data availability technology has shown to achieve speeds 1000x+ faster and cheaper than ETH L1, which is simply phenomenal. We're proud to be their partners in this journey, and can't wait to see their ecosystem thrive as the team pushes forward towards main-net."
0G comprises team members with diverse experience having worked at prestigious firms such as Microsoft, Bain, Bridgewater Associates, Harvard Business School, Stanford, and IDEO. The members have launched various unicorn companies raising over $200 million and employing more than a thousand people.
0G, or ZeroGravity, is a leading Web3 infrastructure provider that is building the leading modular AI blockchain creating solutions to implement on-chain AI applications in the Web3 ecosystem. The platform achieves high data availability through its unique architecture separating data storage and data publishing. By ensuring throughputs of 50 GB/second, a full 50,000x faster than competitors, and a cost that is 100x lower, 0G has positioned itself as a leader in bringing high data use cases, such as scalable L2s and modular AI, into the Web3 ecosystem.
