Edge Matrix Chain (EMC), a multichain infrastructure, has raised $20 million in a funding round led by Polygon Ventures and Amber Group. The funding round also saw participation from One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group, and Hameem Raees Chowdhury. EMC plans to use the funds to launch its Layer 1 blockchain focused on AI apps, designed to scale and support GPU compute for crypto AI projects. The blockchain will introduce a new DeFi asset class backed by tokenized real-world GPU resources, leveraging Nvidia's H100 Tensor Core GPUs. EMC also launched a two-month public testnet incentive program with a $5 million prize pool.

MATIC

Edge Matrix Chain (EMC), a multichain infrastructure, has raised $20 million in a funding round led by Polygon Ventures and Amber Group.The project said that investors, including One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group, and Hameem Raees Chowdhury, participated in the funding round.EMC plans to use the newly raised funds to launch its Layer 1 blockchain, which is focused on apps designed for artificial intelligence. The blockchain is “designed to scale and support GPU compute for crypto AI projects while introducing a new DeFi asset class backed by tokenized real-world GPU resources.”The project has proposed introducing a new DeFi asset class that claims to “leverage tokenized H100 Tensor Core GPUs developed by Nvidia.” According to its statement, such assets would allow users to benefit from returns generated by outsourcing on-chain GPU resources.EMC also said that it launched a two-month public testnet incentive program on August 17 and plans to allocate a $5 million prize pool through two stages of incentive programs.

Edge Matrix Chain Secures $20 Million Funding for AI-Focused Blockchain