Insiders: AI and data project Grass Network completes Series A funding led by Hack VC, with a valuation of nearly one billion dollars

According to ChainCatcher news, citing informed sources from BlockBeats, the AI and data project Grass Network has completed a new round of financing, led by Hack VC, with participation from Polychain Capital, Delphi Digital, Lattice, and Brevan Howard Digital. The amount of financing has not been disclosed, but insiders indicate that the new round of financing has brought Grass's valuation to nearly one billion dollars.

According to the Web3 asset data platform RootData, Grass completed a $3.5 million seed round of financing last December, led by Polychain Capital and Tribe Capital.

Grass aims to redefine the internet incentive structure by allowing users to share unused internet bandwidth resources. Currently, the network operates with over 2 million user-run nodes, capturing vast amounts of data for AI models. Grass's infrastructure also gives the team the advantage of building the first user-owned internet-scale web crawler. At present, only two companies globally (Google and Bing) have the capability to crawl the entire internet, a capability that underpins their trillion-dollar businesses. Grass's goal is to replace them and create the first user-owned knowledge graph of the entire internet.