TL;DR:
- London-based machine learning training and hosting platform Tromero has raised £1.5 million in seed funding led by BlueYard Capital.
- Tromero aims to leverage blockchain technology to provide proof of work and AI training, addressing computational challenges and high costs associated with AI.
- The platform offers a unique approach where machine learning training and hosting act as the proof of work, termed ‘Proof of Useful Work.’
- Tromero incentivizes miners with crypto rewards and fiat payments for completed jobs, optimizing GPU usage and solving meaningful AI problems.
- The startup disrupts industry incumbents by substantially undercutting their fees while delivering comparable service outcomes.
- Tromero’s decentralized and democratic approach paves the way for cost-effective and accessible AI solutions for all.
Main AI News:
London, UK – Tromero, the innovative machine learning training and hosting platform, has successfully raised £1.5 million in a seed funding round led by BlueYard Capital, signaling a major milestone for the startup. The infusion of capital will enable Tromero to assemble a top-notch team dedicated to delivering a fully functional beta version of their groundbreaking platform within the next 12 months.
Co-founded by accomplished AI Ph.D. researchers Sophia Kalanovska and Charles Higgins, Tromero emerged from London’s esteemed deeptech venture program, Conception X. With a clear vision in mind, Tromero aims to tackle two pressing challenges in the AI industry simultaneously. By harnessing the power of blockchain technology, the platform offers a unique combination of proof of work—a service designed to be computationally expensive—and AI training, a process known for its computational challenges, high costs, and widespread adoption.
At the heart of Tromero lies a blockchain built on a consensus protocol, where machine learning training and hosting act as the primary proof of work. This groundbreaking approach serves as the cornerstone of consensus within the blockchain while simultaneously offering a valuable service referred to by the startup as ‘Proof of Useful Work’—a trained ML model. In other words, Tromero efficiently tackles two tasks with one solution.
Tromero’s innovative solution extends beyond the platform itself. The startup offers crypto rewards for miners who contribute their computational resources, as well as payments in fiat currency for completed jobs. This incentivization model not only benefits miners but also ensures that GPUs, which are traditionally used for meaningless hashing, are utilized to address meaningful problems that require AI solutions.
Sophia Kalanovska, Tromero’s co-founder, explained, “In an industry struggling to keep up with the skyrocketing demand for machine learning training, our cryptocurrency mining approach ensures that GPUs are no longer wasted on futile tasks but are instead utilized to solve real-world problems. Our system breaks down barriers hindering the creation of impressive AI models, paving the way for a future where AI is accessible and created by all, for all.”
Unquestionably, Tromero’s disruptive approach challenges industry incumbents such as Amazon’s AWS, Microsoft’s Azure, and Google Cloud. Moreover, the startup claims to substantially undercut the fees levied by these industry giants while delivering comparable outcomes in terms of service quality.
Charles Higgins, the co-founder of Tromero, added, “Web3 inherently drives decentralization, democratization, and privacy, offering an array of tools to eliminate reliance on institutional players for daily transactions. As AI becomes an integral part of everyday life, we firmly believe in establishing a decentralized, democratic, and private AI ecosystem. This provides a clear path to cost-effective and user-friendly AI solutions for all.”
Conclusion:
Tromero’s successful funding round and innovative platform have significant implications for the market. The startup’s use of blockchain technology, coupled with incentivized crypto mining, challenges established industry players and offers a decentralized and cost-effective alternative. With the potential to democratize AI training and hosting, Tromero is poised to revolutionize the market by making AI accessible and affordable for a wider audience.
