CoinMarketCap reports on successful funding rounds for @tryramp and @ManifoldLabs, totaling $500M and $10.5M, respectively.

CoinMarketCap reports on successful funding rounds for @tryramp and @ManifoldLabs, totaling $500M and $10.5M, respectively.

CoinMarketCap reports that two significant funding rounds have bolstered the AI and fintech sectors. Spend-management unicorn Ramp closed a $500 million Series E-2 round, while Manifold Labs secured $10.5 million in Series A funding [1].

Ramp's $500 Million Funding Round

Ramp, a spend-management unicorn, has raised $500 million in its Series E-2 round, bringing its valuation to $22.5 billion. The funding round was led by a mix of existing and new investors, with capital earmarked for autonomous AI fraud detection and transaction review agents. This round underscores investor confidence in AI-driven fintech solutions, despite ongoing market volatility [1].

Manifold Labs' $10.5 Million Series A Round

Manifold Labs, a company focused on decentralized AI cloud solutions, has secured $10.5 million in Series A funding led by OSS Capital. This funding will support the expansion of Targon, a Bittensor-based decentralized AI cloud that handles 20 billion inference calls on 1,500+ H200 GPUs. The round highlights the growing interest in decentralized AI infrastructure and its potential to create confidential, incentive-driven compute markets [1].

These funding rounds reflect the ongoing optimism and investment in the AI and fintech sectors, despite recent market fluctuations. As AI continues to transform various industries, these funding rounds signal a robust future for both sectors.

References

[1] https://coinmarketcap.com/academy/article/ai-news-sector-steeped-in-red-despite-huge-funding-boon