By StartupChi Team, July 2, 2024

Introduction

Today, Pi Squared announced a successful seed funding round, raising $12.5 million to reshape the landscape of remote computing and smart contracts. The innovative startup promises to enhance blockchain functionality by delivering trustless computing solutions that empower decentralized applications (dApps) across various platforms. This funding marks a significant step for both Pi Squared and the blockchain industry at large.

Background

Founded by visionaries in the blockchain space, Pi Squared seeks to address the ongoing challenges in trust and interoperability that hinder the wider adoption of decentralized technologies. The origins of the company trace back to a simple yet profound realization: for blockchain to become ubiquitous, it must provide seamless and secure interactions between various networks. By focusing on interoperable smart contracts and robust AI solutions, Pi Squared is positioning itself to become a go-to platform for developers and businesses alike.

Funding Details

This seed round attracted attention from prominent investors, including Polychain, ABCDE, and Bloccelerate VC, with a total of 15 investors participating. While the pre-money valuation remains undisclosed, this funding is geared towards accelerating the development of Pi Squared’s technology. “We believe in Pi Squared’s vision and are excited to support their endeavor to enhance the functionality of blockchain applications,” commented Shumo Chu from Polychain.

Competitive Landscape

In a rapidly evolving blockchain ecosystem, Pi Squared finds itself competing against established players that offer less integrated solutions. Many current providers lack the comprehensive focus on trustless remote computing and interoperability. Pi Squared’s unique approach not only differentiates it from competitors but also positions it at the forefront of the sector as organizations look for advanced solutions that optimize performance without sacrificing security.

Future Plans

The fresh capital will play a pivotal role in accelerating product development and expanding Pi Squared’s engineering team. The company has set ambitious goals to enhance its platform capabilities and develop a suite of tools tailored for developers, streamlining the creation of dApps. Furthermore, Pi Squared aims to scale its operations geographically, targeting key markets that are hungry for innovative blockchain solutions.

Conclusion

With this significant seed funding, Pi Squared is primed to make a noteworthy impact on the blockchain industry, pushing the boundaries of what’s possible in remote computing and smart contract applications. To learn more about their offerings and vision, visit their website at pi2.network.

Seed Round – Pi Squared:

• Organization Name: Pi Squared
• Organization Description: Pi Squared enables trustless remote computing, AI, and interoperable smart contracts for any blockchain or dApp.
• Website: pi2.network/
• Funding Type: Seed
• Funding Round: Seed Round – Pi Squared
• Money Raised: $12,500,000
• Announced Date: Jul 2, 2024
• Funding Stage: Seed
• Pre-Money Valuation: —
• Equity-Only Funding: Yes
• Industries: Blockchain, Software, , Shumo Chu
• Revenue: —
• Total Funding: $12,500,000
• Funding Status: Seed
• Number of Funding Rounds: 1
• Lead Investor:
• Investors: ,,,,,,,,,,,,,,, Polychain, , Bloccelerate VC
• Number of Investors: 15
• Number of Partner Investors: 1