Insider: AI and data project Grass Network completes Series A financing led by Hack VC, with a valuation of nearly $1 billion

BlockBeats reported that on September 14, people familiar with the matter disclosed to BlockBeats that Grass Network, an AI and data project, completed a new round of financing, led by Hack VC, with participation from Polychain Capital, Delphi Digital, Lattice and Brevan Howard Digital. However, 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 $1 billion.

BlockBeats previously reported that Grass had completed a $3.5 million seed round of financing in December last year, led by Polychain Capital and Tribe Capital.

Grass aims to redefine the Internet incentive structure by allowing users to share unused Internet bandwidth resources. Today, the network has more than 2 million users running nodes, capturing a large amount of data for AI models.

Grass's infrastructure also gives the team the advantage of building the first user-owned Internet-level 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 create the first user-owned knowledge graph of the entire Internet.