Ornn has completed a $33 million seed round financing, led by a16z Crypto

BlockBeats News, June 24th, Power market infrastructure company Ornn announced the completion of a $33 million seed round of financing, led by a16z Crypto, with participation from Galaxy Ventures, Nordstar, and SV Angel, and continued support from Vine Ventures, Crucible Capital, Link Ventures, and Box Group.

Ornn stated that a mature commodity market first needs reliable pricing data, with price discovery leading to risk transfer, which in turn supports more efficient capacity allocation. Its introduced OCPI is a transaction-based hashpower index designed to provide the hashpower market with a unified trusted price benchmark for settlement. Partners such as ICE can drive risk transfer through futures and options contracts directly referencing OCPI.

Furthermore, Ornn announced the launch of Ornn Compute, a physical capacity layer for the hashpower market that aggregates GPU capacity from multiple neoclouds into a single platform, offering a unified onboarding process, a secondary market for transfers, and on-demand subleasing. Operators can secure diversified demand from multiple tenants through a subscription contract, while buyers can view the site, hardware configuration, and terms of the booked cluster. This platform will turn dedicated GPU capacity into a liquid asset, enabling the utilization of previously idle capacity.