Irys, the world's first programmable datachain, announced the completion of $10 million in Series A funding to further develop data processing infrastructure.
Funding and Investment
The funding round was led by CoinFund with participation from various venture firms, such as Hypersphere and Amber Group. Since its establishment in 2024, Irys has raised a total of $20 million, reflecting ongoing investor confidence.
Data Issues in the Economy
Irys aims to address inefficiencies in the global economy, where almost no one can benefit from the data they generate. The platform enables data to generate value for its creators by combining a high-performance data layer with smart contract execution.
Technical Advantages of Irys
Irys offers promising technical advantages, including the ability to automate licensing agreements and verify AI training processes. This significantly simplifies integration for developers, allowing them to start using familiar tools.
With growing institutional interest and a strong user base, Irys is positioned to capture significant market share in data processing as demand from the AI economy increases.
