Ritual is developing a decentralized cloud computing service intended to supply compute for artificial intelligence by aggregating servers from a wide range of companies and even individual devices. The startup emerged from stealth with a $25 million funding round led by Archetype. Founded by former members of crypto VC Polychain Capital, Ritual intends to create an incentivized network to enable distributed computing across the AI stack. Its stated goal is to break the current dominance of large providers such as Google, Amazon and Microsoft. Co-founder Niraj Pant described Ritual as “the decentralized network the ecosystem needs.” The company positions its product as an alternative infrastructure layer for various aspects of AI development and deployment.

Total raised

$25M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2023