According to ChainCatcher, BlockBeats cited people familiar with the matter as saying that Grass Network, an AI and data project, 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 yet been disclosed, but people familiar with the matter said that the new round of financing has brought Grass's valuation to nearly US$1 billion.
According to Web3 asset data platform RootData, Grass completed a US$3.5 million seed round of financing in December last year, led by Polychain Capital and Tribe Capital.
Grass aims to redefine the incentive structure of the Internet by allowing users to share unused Internet bandwidth resources. Today, the network has more than 2 million users running nodes, crawling a large amount of data for AI models. Grass's infrastructure also gives the team an advantage in building the first user-owned Internet-scale web crawler. Currently, only two companies in the world (Google and Bing) have the ability to crawl the entire Internet, and this ability is the backbone of their trillion-dollar businesses. Grass's goal is to replace them and build the first user-owned full-Internet knowledge graph.
