Ornn, a company focused on infrastructure for the computing power market, announced the completion of a $33 million seed round financing, led by a16z Crypto, with participation from Galaxy Ventures, Nordstar, and SV Angel. Vine Ventures, Crucible Capital, Link Ventures, and Box Group continue to support the company. Ornn stated that a mature commodity market first requires reliable pricing data, which leads to price discovery, and subsequently facilitates risk transfer, supporting more efficient capacity allocation. Its launched OCPI is a transaction-based computing power index aimed at providing a unified and trustworthy price benchmark for settlement in the computing power market. Partners like ICE can promote risk transfer through futures and options contracts that directly reference the OCPI.
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Ornn Completes $33 Million Seed Round Financing Led by a16z Crypto
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