Acurast has raised $5.4 million for a global decentralized cloud computing network using smartphones.
The funds were raised through a community-led investment round by CoinList, with Acurast's ACU token priced at nine cents.
The capital raised will be used to enhance the protocol that enables users to participate in confidential compute tasks, decentralized AI, and blockchain infrastructure using smartphones.
Acurast's decentralized network has over 72,000 smartphones onboard and offers a high-performance Proof of Stake blockchain for secure decentralized compute.