# io.net

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/io-net

- Industry: Software
- Headquarters: New York, US
- Website: www.io.net
- Total disclosed funding: $30M
- Latest round: Series A (Jan 2, 2025)
- Investors on record: 9

## About

Based in New York, US, and founded in 2022 by CEO Ahmad Shadid, io.net, Inc., a.k.a. io.net is a provider of a GPU cloud platform powered by blockchain designed for machine learning application development, execution, and scalability. The company's platform features automated provisioning, monitoring, and billing processes. In January 2025, io.net, Inc. raised an undisclosed amount of series A funding led by returning investor Hack VC, with participation from returning investor ArkStream Capital. Individual and other unspecified investors also participated in the round.

The company’s product line includes io.net cloud, io.net worker, and io.net explorer, enabling users to harness the power of decentralized GPUs. The io.net cloud is a decentralized computing network that enables machine learning engineers to access scalable distributed clusters. The firm also allows AI developers to develop, train, and deploy AI applications on its decentralized cloud.

The company will use the funding to expand its GPU network to 500,000 concurrent GPUs, enhancing its competitive position against centralized cloud providers.

## Funding rounds

- Series A, Jan 2, 2025 — Hack VC, ArkStream Capital
- Series A, Mar 5, 2024, $30M — Multicoin Capital, Hack VC, Delphi Digital, 6th Man Ventures, The Sandbox, Solana Ventures, Aptos Labs, OKX Ventures

## Investors

- Multicoin Capital (https://capitalatlas.ai/funds/multicoin-capital) — Series A
- Hack VC (https://capitalatlas.ai/funds/hack-vc) — Series A
- Delphi Digital — Series A
- 6th Man Ventures (https://capitalatlas.ai/funds/6th-man-ventures) — Series A
- The Sandbox — Series A
- Solana Ventures (https://capitalatlas.ai/funds/solana-ventures) — Series A
- Aptos Labs — Series A
- OKX Ventures (https://capitalatlas.ai/funds/okx-ventures) — Series A
- ArkStream Capital (https://capitalatlas.ai/funds/arkstream-capital) — Series A