0G Labs, a Web3 modular infrastructure company, has announced the successful closure of a $35 million pre-seed funding round on March 25. The funding round saw participation from over 40 crypto-focused institutions, including Hack VC and Blockchain Builders Fund, as stated in a press release from 0G Labs.

This capital injection will be utilized to advance 0G Labs' goal of establishing a comprehensive blockchain-based solution for training, deploying, and operating artificial intelligence models. According to the press release, one of the key advantages of its platform is its superior speed compared to existing solutions like Ethereum's smart contract network.

Ed Roman, Managing Partner at Hack V, commended 0G Labs as a trailblazer in on-chain generative AI infrastructure:

"0G is positioned as the leading modular data availability solution for Web3, including the next wave of crypto-driven AI networks. Their data availability technology has demonstrated speeds over 1000 times faster and cheaper than ETH L1, which is truly remarkable. We're thrilled to be part of their journey and look forward to witnessing their ecosystem flourish as they progress towards main-net."

Pre-seed funding typically marks a startup's initial funding round. This $35 million funding round represents one of the largest initial investments for a company operating at the intersection of Web3 and artificial intelligence (AI).

0G Labs' website reveals that one of its projects in development is "Uni-Chain," an architecture for Web3 aiming to seamlessly link networks into a unified metaverse. This metaverse would allow users to interact and transact across different chains using a single wallet access.

"Our modular technology will facilitate seamless interoperability between chains," the site states, "while ensuring security, reducing fragmentation, and maximizing connectivity for a borderless and open meta-universe."