Grass Network Raises New Funding Led by Hack VC, Reaching Nearly $1 Billion Valuation

According to ChainCatcher, citing sources familiar with the matter, AI and data-focused project Grass Network has closed a new funding round led by Hack VC, with participation from Polychain Capital, Delphi Digital, Lattice, and Brevan Howard Digital. While the exact amount of funding has not been disclosed, sources indicate the new round has pushed Grass' valuation to nearly $1 billion.

Web3 asset data platform RootData reveals that Grass completed a $3.5 million seed round in December 2022, led by Polychain Capital and Tribe Capital.

Grass aims to redefine the internet's incentive structure by allowing users to share their unused internet bandwidth resources. Currently, the network operates with over 2 million users running nodes, capturing a significant amount of data for AI models. Grass' infrastructure also gives the team an advantage in building the first user-owned internet-scale web crawler. Currently, only two companies globally (Google and Bing) have the capacity to crawl the entire internet, a capability that is the cornerstone of their trillion-dollar businesses. Grass aims to replace this, creating the first user-owned, full internet knowledge graph.