In this week's round-up of notable investments in the tech landscape, Intelion, Nexus, Zyfi, NEAR Foundation, and Binance Labs have emerged as leaders in the AI, Web3, and crypto industries.

This week's investment highlights showcase noteworthy developments in AI, crypto, and Web3. Intelion is making waves with a $135 million investment in AI, which includes plans for a new data center located in Samara Oblast. Meanwhile, Nexus has secured $25 million for its work in zero-knowledge cryptography and verified computing. Zyfi has brought in $2 million aimed at improving its gas abstraction layer, and the NEAR Foundation has successfully raised $13 million for its initiative, Nuffle Labs, focused on decentralizing research. Binance Labs has also joined the fray by investing in Zircuit, an innovative Layer-2 network backed by AI.

Intelion Steps Up with a $135 Million Investment in AI Projects

A substantial investment of $135 million is being aimed at AI growth by Intelion, a player in the Russian cryptocurrency scene. ing companies, This investment includes plans for a cutting-edge data center situated in the Samara Oblast. Intelion Cloud, a subsidiary, will prioritize the expansion of AI businesses by offering clients access to high-performance computing capabilities.

This sector has seen rapid growth, collaborating with energy providers in regions enjoying milder climates and lower electricity prices, driven by the dynamics of global cryptocurrency markets. The first phase of Intelion Cloud's new facility in Samara is on track to commence operations in the fourth quarter of 2024.

Nexus Secures $25 Million through Series A Funding for Zero-Knowledge Cryptography

The $27.2 million overall financing This funding round underscores Nexus's commitment to zero-knowledge cryptography and verified computing technologies. The startup aims to provide developers with the tools needed to generate zero-knowledge proofs, thus enhancing trust across the digital landscape. Nexus emphasizes the increasing demand for robust evidence generation in sectors focused on securing and boosting decentralized infrastructures, including cloud computing, AI, cybersecurity, and privacy-enhancing technologies.

Zyfi Gains $2 Million to Boost Innovation in Gas Abstraction with zkSync Layer

In a private investment round Zyfi, a project developing a gas abstraction layer on top of zkSync, has successfully garnered $2 million in funding. This capital will be directed toward enhancing development tools for software creators and refining a payment management system for decentralized apps (dApps). Already, Zyfi has handled over 815,000 transactions and lifted gas costs for more than 110,000 users. Furthermore, Zyfi acts as a bridge to the zkSync network, allowing users to transfer tokens efficiently without incurring Ethereum gas fees while ensuring competitive exchange rates.

NEAR Foundation Secures $13 Million for Nuffle Labs' Research Decentralization

The NEAR Foundation provided a grant The NEAR Foundation has recently brought in $13 million in funding, led by venture firm Electric Capital. Noteworthy investors like Dovey Wan from Primitive Ventures and Sandeep Nailwal from Polygon also contributed. The funds will focus on enhancing decentralized research efforts within the NEAR ecosystem and advancing Nuffle Labs' modular architecture meant for high-efficiency rollups.

Binance Labs Makes Strategic Investment in AI-Powered Crypto Initiative Zircuit

Zircuit aims to offer speedy, economical, and Ethereum Virtual Machine (EVM) compliant transactions as its primary features. The project has assessed over 1,100 applications for its 'Build to Earn' program, collaborating with top industry launch partners. With more than $3.5 billion in staked assets, Zircuit is set to unveil its mainnet in the coming months. Binance Labs supports innovation in Web3 and strives to accelerate advancements within the blockchain sector. Please bear in mind that the information contained on this page does not qualify as legal, tax, investment, financial, or similar advice. It's crucial to invest only what you can afford to lose and to seek independent financial counsel for any uncertainties. For more details, we recommend reviewing the issuer's terms and conditions as well as their help and support resources. At MetaversePost, we are dedicated to providing precise and impartial reporting, though market conditions may shift unexpectedly.