Ornn completes $33 million seed round led by a16z Crypto

ChainCatcher news, computing 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; price discovery subsequently leads to risk transfer, and risk transfer supports more efficient capacity allocation. The OCPI it launched is a transaction-based computing power index, designed to provide a unified and trusted price benchmark for the computing power market that can be used for settlement. Partners such as ICE can promote risk transfer through futures and options contracts that directly reference OCPI.

Ornn also announced the launch of Ornn Compute, a physical capacity layer aimed at the computing power market that can aggregate dedicated GPU capacity from multiple neoclouds onto a single platform, offering unified access processes, a secondary transfer market, and on-demand sublease functions. Operators can obtain diversified demand from multiple tenants through a syndication contract, while buyers can view the sites, hardware configurations, and terms of the booked clusters. The platform will make dedicated GPU capacity a liquid asset and allow previously idle capacity to be utilized.