Grass Secures $10 Million in Fresh Funding from Polychain & Tribe

Decentralized Physical Infrastructure Network (DePIN), Grass, has announced a new capital raise which sees the project laden with some $10 million in fresh investor capital.

The raise takes the form of a bridging round, following on from a Series A investment round, completed in September 2024, which was led by Hack VC - The total raised in the Series A was not disclosed but itself followed a $3.5 million Seed round.

This new raise saw participation from both Polychain and Tribe Capital, both of which are well known venture capital firms within the cryptocurrency industry.

For context, Polychain tallies some of crypto’s most established platforms in its portfolio, including Ava Labs (the company behind the Avalanche blockchain), Oasis Labs, and Dfinity (the company behind Internet Computer).

Tribe Capital, meanwhile, boasts and AUM of some ~$1.8 billion, alongside historical investments into the likes of Berachain and Kraken exchange.

Though the terms of the raise have not been disclosed, Blockworks reported that it was mainly conducted via the sale of the project’s native $GRASS token, presumably with some lock-up or release schedule applied.

According to a post on Grass’ official X/Twitter account, “This investment will be used to support growth, expand infrastructure, and accelerate the path to our goal of an internet scale web crawl.”

What is Grass?

Launched in October 2024, Grass operates a layer-2 network atop the Solana blockchain which, in turn, allows network users and participants to monetize their excess bandwidth, thereby creating income streams from an otherwise idle resource.

This bandwidth is paid for by companies training large AI models, and users are rewarded for their contributions in the form of the $GRASS token. 

Though the underlying technology behind Grass is complex and built for purpose, the end user experience is smooth and simple. Would-be participants need only download the GRASS browser extension or application, establish their device as a node, and begin earning ‘points’ which are converted into tokens at specific points. 

The $GRASS token itself holds a market cap of more than $200 million, as of October 8, 2025, and is listed on tier-one centralized exchanges such as Bybit, Kraken and Bitget. 

Sources:

• Grass’ X/Twitter Page: Fundraising Announcements
• Grass’ Official Website: General Information on the Project
• CoinMarketCap: $GRASS Token Price Data & Exchange Listings.