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Investing.com - Datagram has announced the closure of a $4 million pre-seed funding round, as the artificial intelligence-driven "hyper-fabric network" looks to optimize its real-time operations ahead of its upcoming transition into a live, operational blockchain.
In a statement sent exclusively to Investing.com, Datagram said the funding round was led by Blizzard the Avalanche Fund. Avalanche, a blockchain platform designed for builders who require high performance at scale, offers architecture that allows for the creation of "sovereign, efficient and fully interoperable" public and private layer blockchains.
The funds will be deployed to launch Datagram’s sovereign Layer 1 blockchain on Avalanche, the company said, adding that it will be "optimized for real-time performance and composability."
"The $4 million raise will also accelerate Datagram’s node network deployment in key markets, onboard strategic partners, and accelerate Datagram Network’s roadmap for its upcoming node sale and mainnet launch," Datagram added.
Datagram’s network will employ idle compute, storage and bandwidth into a high-availability, decentralized "backbone" powering applications in sectors like gaming, AI and communications, the firm noted.
It flagged that "60% of global capacity in connectivity infrastructure is underutilized" and "up to 80% of bandwidth, CPUs, and storage across personal and enterprise systems [is] sitting idle."
CEO Jason Brink said Datagram’s technical foundation has the potential to become "the baselayer for the decentralized internet," referring to a version of the internet where control of data is distributed among users, rather than concentrated in large companies. Datagram has so far served over 200 enterprises and one million users worldwide, it said.
Other participants in the funding round included Animoca Brands, Cointelegraph, Amber Group, Aquanow, Arche Fund, DePIN X Capital, ISKRA, JDI Ventures, Yellow Capital and a cohort of angel investors from infrastructure and blockchain organizations, Datagram said.