Edge Matrix Chain (EMC) raises $20M in a funding round led by Polygon Ventures and Amber Group to launch a Layer 1 blockchain tailored for AI applications, introducing a new DeFi asset class backed by tokenized GPU resources.
Bollywood Fever: Edge Matrix Chain (EMC), a multichain infrastructure project, has successfully raised $20 million in a recent funding round led by Polygon Ventures and Amber Group. The round also saw participation from several prominent investors, including One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group, and Hameem Raees Chowdhury.

With the newly secured funds, EMC plans to launch its Layer 1 blockchain, specifically designed to cater to applications focused on artificial intelligence (AI). The blockchain aims to scale and support GPU compute for crypto AI projects, while introducing a novel DeFi asset class backed by tokenized real-world GPU resources.
EMC’s proposed DeFi asset class will leverage tokenized H100 Tensor Core GPUs developed by Nvidia, allowing users to benefit from returns generated by outsourcing on-chain GPU resources. This innovative approach is expected to create new opportunities within the decentralized finance space by integrating AI capabilities with blockchain technology.
In addition to the blockchain launch, EMC has also initiated a two-month public testnet incentive program, which began on August 17. The project has allocated a $5 million prize pool, distributed through two stages of incentive programs, to encourage participation and development on the testnet.
The funding round and the upcoming blockchain launch mark significant milestones for EMC as it seeks to position itself at the forefront of the intersection between AI and blockchain technology.
Also Read other news articles, Google Considering Building Hyperscale Data Center in Vietnam Amid Growing Digital Economy
South Korea’s Exports Expected to Rise for 11th Consecutive Month in August
HSBC’s Wealth Chief Nuno Matos to Depart Amid Leadership Shake-Up as New CEO Takes Charge