TechFlow reported on November 13 that, according to The Block, decentralized AI infrastructure developer 0G Labs has announced a new round of financing totaling $290 million. This includes a $40 million seed funding round and a $250 million token purchase commitment secured by the 0G Foundation. Investors include Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Bankless Ventures, Animoca Brands and its co-founder Yat Siu, Polygon and its co-founder Sandeep Nailwal.
According to Michael Heinrich, co-founder and CEO of 0G Labs, the seed round was structured using the SAFE agreement combined with token subscription warrants, with a maximum SAFE valuation exceeding $2 billion. The $250 million token purchase commitment will take effect upon the listing of the 0G token on exchanges in the first or second quarter of 2025.
