Hyperbolic, a New York-based AI services and GPU resource provider, has secured $7M in seed funding.

The funding round was spearheaded by Polychain Capital and Lightspeed Faction, with contributions from several other investors including Chapter One, LongHash, and angel investors like Balaji Srinivasan and Illia Polosukhin.

Hyperbolic plans to utilize the investment to further develop its open-access AI cloud platform and hire key engineers.

Under CEO Jasper (Yue) Zhang, the company aims to democratize access to AI computing and will introduce its Proof of Sampling (PoSP) protocol on an interoperable blockchain to enhance its decentralized network.