Digital asset firm COSIMO Ventures rebranded as COSIMO Digital earlier this week, announcing a $12 million strategic funding round.

The round, led by former Bridgewater CEO Des Mac Intyre, will be used to target “strategic partners for expansion and growth in this fast-growing market.”

As part of the new brand, COSIMO will be combined under one umbrella. The company “offers a full range of services, including investment funds, custodial services, advisory, brokerage and brokerage services, and Web3 and blockchain development,” a press release said.

Managing partner Kieran Hines said: “This was the right time to bring everything together under one unified vision identity.”

Rob Frasca of COSIMO added: “Our comprehensive approach to digital asset management positions us as industry leaders Coding and blockchain markets, paving the way for institutional and retail investors to benefit from this transformative technology.

Read more: Former Grayscale CEO shifts focus to coding

Next up is Hyperbolic, which announced a $12 million Series A earlier this week.

The round, led by Variant Fund and Polychain Capital, brings Hyperbolic's total raise to $20 million.

The company is using the funds to create an “AI rainforest” that is essentially a symbiotic AI ecosystem, CEO Jasper Chang said in a blog post announcing the round.

“I want (researchers and developers) to build their dreams on our infrastructure – services that are accessible, verifiable and ready to grow alongside them. It's about building a fertile ground where ideas can take root, flourish and then spread to benefit everyone.” books.

Read more from our opinion section: Big Tech cannot own the future of AI if we decentralize it first

He added that the increase will help the company find a "clearer direction and a more confident move" while moving away from being as "volatile" as it once was.

Other notable funding news:

• Monray Announce $10 million round. Brands Republic Crypto and Animoca were among the participants.
• tons projects receive $5 million from OKX Ventures.
• Yes, financial Announce $2 million seed funding round led by Manifold.
• crypto.com acquired ORION MANAGERS LIMITED.
• Lava He said It has raised a Series A led by Funders Fund and Khosla Ventures.

Updated December 16, 2024 at 3 PM ET: The headline has been modified to indicate that Cosimo's funding round is ongoing.

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