When was io.net founded?

io.net was founded in 2022 and raised its 1st funding round 1 year after it was founded.

Where is io.net located?

io.net is headquartered in New York City, United States.

How many employees does io.net have?

As of Jun 30, 2026, the latest employee count at io.net is 81.

Is io.net a funded company?

io.net is a funded company, having raised a total of $40M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on May 01, 2023.

How much is io.net worth?

The latest valuation of io.net is $***** as of Jun 06, 2024.

When was the latest funding round of io.net?

io.net's latest funding was a $***** Series A round on Mar 05, 2024, with participation from 18 investors. Its primary sector is High Performance Computing. In United States, the High Performance Computing sector has seen $7.74B in funding in 2026 to date.

Where does io.net rank among its competitors?

io.net ranks 30th amongst 408 active competitors, of which 72 are funded. It stands 7th in terms of total funding among its competitors. The most recent competitor to raise funding was FluidStack, which secured $830M in Jun, 2026.

Who are the top competitors of io.net?

io.net's top competitors include CoreWeave, Hewlett Packard Enterprise and Theta Token. Among them, FluidStack secured the most recent funding round in June, 2026.

io.net - 2026 Company Profile, Team, Funding & Competitors

io.net is a series A company based in New York City (United States), founded in 2022 by Basem Oubah, Saad Mohammed Alenezi and Ahmad Shadid. It operates as a Decentralized GPU cloud platform for AI and machine learning workloads. io.net has raised $40M in funding from investors like Solana Labs, OKX and Hack VC, with a current valuation of $*****. The company has 408 active competitors, including 72 funded and 28 that have exited. Its top competitors include companies like CoreWeave, Hewlett Packard Enterprise and Theta Token.

Company Details

Decentralized GPU cloud platform for AI and machine learning workloads. It provides GPU-accelerated resources for artificial intelligence and machine learning applications, aiming to unlock fair access to computing power. It aggregates hundreds of thousands of GPUs through a unified platform, enabling users to power the AI workloads with cost savings. The platform's intelligent stack enables users to deploy scalable clusters for AI development on a decentralized global GPU network.

Website: io.net
Social
Email ID: *****@io.net

Key Metrics

Founded Year

2022

Location

New York City, United States

Stage

Series A

Total Funding

$40M in 2 rounds

Latest Funding Round

Series A, Mar 05, 2024, $*****

Post Money Valuation

$***** as on Jun 06, 2024

Investors

Solana Labs & 17 more

Ranked

30^th among 408 active competitors

Employee Count

81 as on Jun 30, 2026

Similar Companies

Vercel & 1729 more

View io.net's full profile

io.net has raised a total funding of $40M over 2 rounds. Its first funding round was on May 01, 2023. Its latest funding round was a Series A round on Mar 05, 2024 for $*****. 18 investors participated in its latest round. io.net has 15 institutional investors and 3 angel investors.

Here is the list of recent funding rounds of io.net:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 05, 2024	3028413	Series A	3879635	3724677	3725546	5851756
May 01, 2023	1007669	Seed	8145004	8664771	4278209	3170753

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View details of io.net's funding rounds and investors

The founders of io.net are Basem Oubah, Saad Mohammed Alenezi and Ahmad Shadid.

Here are the details of io.net's key team members:

Basem Oubah: Co-Founder of io.net.
Saad Mohammed Alenezi: Co-Founder of io.net.
Ahmad Shadid: Former Co-Founder of io.net.
Contact Info: 1 email address

View details of io.net's Founder profiles and Board Members

io.net's employee count trend

io.net has 81 employees as of Jun 26. Here is io.net's employee count trend over the years:

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Top competitors of io.net include CoreWeave, Hewlett Packard Enterprise and Theta Token. Here is the list of Top 10 competitors of io.net, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	CoreWeave 2017, Livingston (United States), Public	Provider of cloud computing services for artificial intelligence workloads	$2.38B	Magnetar, Fidelity Investments & 37 others	75/100
2nd	Hewlett Packard Enterprise 2015, Houston (United States), Public	Provider of edge-to-cloud solutions, products, and services for enterprise organizations	-	Kleiner Perkins, Draper Athena & 3 others	74/100
3rd	Theta Token 2016, Cupertino (United States), Series A	Decentralized video delivery platform	$9.26M	The Venture Reality Fund, GFR Fund & 36 others	70/100
4th	Rescale 2011, San Francisco (United States), Series D	Provider of high performance computing platform for engineering and science	$369M	Republic Capital, Samsung Catalyst Fund & 71 others	70/100
5th	FluidStack 2017, New York City (United States), Series A	Provider of managed high performance computing clusters for artificial intelligence	$1.88B	Situational Awareness, Mercuri & 10 others	70/100
6th	Aethir 2021, Singapore (Singapore), Seed	Cloud infrastructure for AI and gaming industry	$9M	Framework Ventures, HashKey Capital & 19 others	68/100
7th	exaBITS 2021, San Mateo (United States), Seed	Decentralized GPU computing infrastructure for AI workloads	$20M	Portal ventures, Outlier Ventures & 16 others	67/100
8th	Neysa 2023, Mumbai (India), Series B	Provider of AI acceleration cloud system with infrastructure and services	$650M	Z47, Nexus Venture Partners & 16 others	66/100
9th	Crusoe 2018, Denver (United States), Series E	Operator of cloud platform providing infrastructure for artificial intelligence workloads	$2.77B	Founders Fund, Valor Equity Partners & 71 others	66/100
10th	Luminous 2018, Mountain View (United States), Series A	Platform offering AI based supercomputers	$123M	Gigafund, BoxGroup & 16 others	66/100
30th	io.net 2022, New York City (United States), Series A	Decentralized GPU cloud platform for AI and machine learning workloads	$40M	Animoca Brands, OKX & 16 others	56/100