Ornn completes $33 million seed round financing, led by a16z Crypto

The computing power market infrastructure company Ornn announced the completion of a $33 million seed round financing, led by a16z Crypto, with participation from Galaxy Ventures, Nordstar, and SV Angel, while Vine Ventures, Crucible Capital, Link Ventures, and Box Group continue to support.

Ornn stated that a mature commodity market first requires reliable pricing data, which leads to price discovery, and then risk transfer, which supports more efficient capacity allocation. The OCPI it launched is a transaction-based computing power index designed to provide a unified and trustworthy price benchmark for settlement in the computing power market. Partners like ICE can promote risk transfer through futures and options contracts that directly reference the OCPI.

Additionally, Ornn announced the launch of Ornn Compute, a physical capacity layer for the computing power market that can aggregate dedicated GPU capacity from multiple neoclouds onto a single platform, providing a unified access process, a secondary transfer market, and on-demand subleasing capabilities. Operators can obtain diversified demand from multiple tenants through a syndication agreement, while buyers can view the sites, hardware configurations, and terms of the reserved clusters. This platform will make dedicated GPU capacity a liquid asset and allow previously idle capacity to be utilized.