{"id":"f00b1bb3-15c7-4119-9995-05df1c10f55b","name":"io.net","slug":"io-net","description":"io.net is a decentralized GPU cloud that aggregates idle graphics-processing capacity from independent datacenters, mining operations, and consumer machines into a single on-demand marketplace, orchestrated on the Solana blockchain and settled in the network's IO token. The company started life as a quantitative trading shop; its founders' need to run distributed workloads across scattered GPUs without paying hyperscaler rates became the product, and io.net now positions itself as the alternative to AWS, Google, and CoreWeave for teams that want cheaper compute and are willing to trade the polish of a single-operator cloud for a heterogeneous pool.\n\nThe network's distinguishing bet is aggregation rather than construction: instead of building or leasing megawatt-scale campuses, io.net writes software (built on the open-source Ray framework) that stitches geographically dispersed GPUs into clusters a customer can rent by the hour. That model gives the company breadth across NVIDIA generations (A100, H100, H200 and consumer cards such as RTX 4090s all appear in its inventory dashboard) but it also means capacity, uptime, and location commitments are supplier-mediated rather than owned, which sets io.net apart from asset-heavy neoclouds like CoreWeave, Crusoe, or Nebius.\n\nThe company raised a $30 million Series A led by Hack VC in March 2024 (with Multicoin, Solana Ventures, Aptos Labs, and Delphi participating) and launched the IO token on Solana in June 2024. Founder Ahmad Shadid stepped down as CEO in late 2024 and was replaced by Tory Green, previously chief operating officer, amid a broader reset toward enterprise inference customers and away from a purely retail-DePIN narrative.","status":"active","founded":2022,"hq":"New York, New York, USA","hqLat":null,"hqLng":null,"hqGeocodedAt":null,"hqAddress":null,"hqPrecision":null,"website":"https://io.net","fundingTotal":"40000000","type":null,"roles":[],"reviewStatus":"reviewed","heatIndex":0,"lifecycleState":"active","supersededByCompanyId":null,"sources":[{"url":"https://io.net/","title":"io.net - The Open Source AI Infrastructure Platform","publisher":"io.net"},{"url":"https://io.net/docs","title":"io.net documentation: origin story and network architecture","publisher":"io.net"},{"url":"https://io.net/blog/","title":"io.net blog: pricing, tokenomics, and GPU network claims","publisher":"io.net"},{"url":"https://techcrunch.com/2024/03/05/io-net-a-decentralized-network-of-gpus-lands-30m-from-hack-vc/","date":"2024-03-05","title":"io.net, a decentralized network of GPUs, lands $30M from Hack VC","publisher":"TechCrunch"},{"url":"https://www.coindesk.com/business/2024/03/05/decentralized-ai-startup-ionet-raises-30m-led-by-hack-vc/","date":"2024-03-05","title":"Decentralized AI startup io.net raises $30M led by Hack VC","publisher":"CoinDesk"}],"keyFacts":[{"label":"Business model","value":"Decentralized GPU aggregator on Solana: pools idle GPUs from third-party datacenters, crypto miners, and consumers into a single rentable cluster orchestrated on the Ray framework","sourceUrl":"https://io.net/docs"},{"label":"GPU inventory","value":"Heterogeneous pool spanning NVIDIA A100, H100, H200 and consumer cards (e.g. RTX 4090); io.net has publicly claimed access to hundreds of thousands of GPUs across its supplier network but has never disclosed an audited figure","sourceUrl":"https://io.net/blog/"},{"label":"Pricing posture","value":"Company markets training workloads at roughly one-seventh of AWS list pricing; per-GPU hourly rates float with supplier bids on the network rather than being a fixed rate card","sourceUrl":"https://io.net/blog/"},{"label":"Silicon partnerships","value":"NVIDIA-dominant inventory (A100/H100/H200 plus RTX consumer cards); no disclosed AMD MI300X, Cerebras, or Intel Gaudi capacity","sourceUrl":"https://io.net/blog/"},{"label":"Datacenter footprint","value":"Asset-light: no owned campuses; capacity comes from independent datacenter partners, mining operators, and individual providers who plug hardware into the io.net network","sourceUrl":"https://io.net/docs"},{"label":"Blockchain layer","value":"IO token launched on Solana in June 2024; token settles supplier payments and gates the network's Incentive Dynamic Engine","sourceUrl":"https://io.net/blog/"},{"label":"Latest disclosed funding","value":"$30M Series A led by Hack VC in March 2024, with Multicoin Capital, Solana Ventures, Aptos Labs, Delphi Digital, and Foresight Ventures participating","sourceUrl":"https://io.net/blog/"},{"label":"Leadership change","value":"Founder Ahmad Shadid stepped down as CEO in late 2024; COO Tory Green promoted to CEO","sourceUrl":"https://io.net/blog/"},{"label":"Positioning axis","value":"Both training and inference, tilted increasingly toward inference and long-tail / mid-market developer customers rather than hyperscale training tenants","sourceUrl":"https://io.net/blog/"},{"label":"Public/private status","value":"Private company; associated IO token trades on public crypto exchanges but the operating entity has not filed for a listing","sourceUrl":"https://io.net/blog/"}],"aliases":[],"collisionRisk":"low","reviewNote":null,"atsProvider":null,"atsSlug":null,"factoryLocations":null,"manufacturingCapacity":null,"orgType":null,"burnSignal":null,"litigationEvents":null,"insurancePostureDisclosed":null,"unitEconomicsDisclosed":null,"tickerSymbol":null,"stockExchange":null,"secCik":null,"revenueUsd":null,"revenueBasis":null,"revenueAsOf":null,"employeeCount":null,"employeeCountBasis":null,"employeeCountAsOf":null,"marketCapUsd":null,"marketCapAsOf":null,"marketCapSource":null,"createdAt":"2026-08-28T01:48:35.584Z","updatedAt":"2026-08-28T03:45:17.421Z","jsonLd":{"@context":"https://schema.org","@type":"Organization","@id":"https://registry.deploy.report/companies/io-net","url":"https://registry.deploy.report/companies/io-net","name":"io.net","description":"io.net is a decentralized GPU cloud that aggregates idle graphics-processing capacity from independent datacenters, mining operations, and consumer machines into a single on-demand marketplace, orchestrated on the Solana blockchain and settled in the network's IO token. The company started life as a quantitative trading shop; its founders' need to run distributed workloads across scattered GPUs without paying hyperscaler rates became the product, and io.net now positions itself as the alternative to AWS, Google, and CoreWeave for teams that want cheaper compute and are willing to trade the polish of a single-operator cloud for a heterogeneous pool.\n\nThe network's distinguishing bet is aggregation rather than construction: instead of building or leasing megawatt-scale campuses, io.net writes software (built on the open-source Ray framework) that stitches geographically dispersed GPUs into clusters a customer can rent by the hour. That model gives the company breadth across NVIDIA generations (A100, H100, H200 and consumer cards such as RTX 4090s all appear in its inventory dashboard) but it also means capacity, uptime, and location commitments are supplier-mediated rather than owned, which sets io.net apart from asset-heavy neoclouds like CoreWeave, Crusoe, or Nebius.\n\nThe company raised a $30 million Series A led by Hack VC in March 2024 (with Multicoin, Solana Ventures, Aptos Labs, and Delphi participating) and launched the IO token on Solana in June 2024. Founder Ahmad Shadid stepped down as CEO in late 2024 and was replaced by Tory Green, previously chief operating officer, amid a broader reset toward enterprise inference customers and away from a purely retail-DePIN narrative.","identifier":"f00b1bb3-15c7-4119-9995-05df1c10f55b","foundingDate":"2022","address":"New York, New York, USA","publisher":{"@id":"https://deploy.report/#organization"}},"framework_metadata":{"framework_schema_version":"0.1.0","verification_status":"verified","maturity_stage":null,"lifecycle_state":null,"architectural_position":{"cohort":null,"sub_cohorts":[]},"within_cohort_verified_vs_claimed_pair":null,"cap_flags":[],"verification_depth":{"sources_count":5,"primary_source_types":["secondary-industry-publication"]}}}