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Hypernet Labs
Hypernet Labs is a distributed computing company based in Palo Alto, California. It aims to provide “a new global architecture for computing that efficiently harnesses and combines latent compute power.”

History
Hypernet Labs was founded in 2018 by co-founders Ivan Ravlich, Todd Chapman , and Daniel Maren. It has raised $10 million to date, in a mix of US Dollars and Ether via sales of its “Hypertoken” utility token, from investors 500 Startups, Sovereign’s Capital, DHVC, Velorum Capital, Southpark Commons, and Decentral Park Capital.

In November 2019 the company announced the launch of its Galileo application.

Projects
Hypernet launched its Galileo application on November 14th, 2019. Galileo is “a low-code solution that eliminates the need to set up virtual machines and spend excessive time on DevOps tasks” for scientists, engineers and researchers.

In the future it will launch a blockchain-enabled marketplace “to securely buy and sell computing power from any device.” It uses a “privacy-preserving protocol” to ensure data is protected by distributing the job over a number of devices. Hypernet “allows the user to leverage the blockchain and the large community of people with spare compute resources by pooling them together to provide the platform needed for intensive tasks.”