O
Oort
Developing technology to support and enhance experiences in the Metaverse
About Oort
OORT is establishing a decentralized cloud infrastructure tailored for artificial intelligence applications, aiming to address critical issues of data privacy, cost, and transparency inherent in traditional centralized systems. The company was founded in May 2021 by Dr. Max Li, who also serves as its CEO. Dr. Li's background includes foundational 5G systems design at Qualcomm and a current role as an adjunct professor at Columbia University, where his research in AI and blockchain spurred the creation of OORT. The venture originated from a research project in his lab in 2018 and was formally launched to tackle high-cost computing issues by pooling idle resources.
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The firm's business model revolves around a suite of products that form a comprehensive, decentralized AI data cloud. This ecosystem leverages a global network of over 83,000 nodes contributed by users, who are incentivized with the native $OORT token for providing unused storage and compute resources. OORT serves a range of clients, from individual developers to large enterprises like Dell, Tencent Cloud, and Githon (formerly Lenovo Image), by offering solutions that can reduce operational costs significantly. The company generates revenue by providing these services, with clients able to pay in fiat currency or at a discount using OORT tokens.
OORT's core technology is the Olympus Protocol, a proprietary Layer-1 blockchain with a Directed Acyclic Graph (DAG) structure, designed for high throughput and low transaction fees. A key feature of this protocol is its patented "Proof of Honesty" (PoH) consensus mechanism, which verifies the integrity of network nodes and the data they process, ensuring a trustworthy and secure environment. The product suite includes OORT Storage, an S3-compatible, decentralized storage solution; OORT DataHub, a platform for crowdsourcing data collection and labeling; and the forthcoming OORT Compute, which will provide on-demand GPU resources for AI model training. OORT DataHub, a flagship product, allows AI companies to source diverse, high-quality datasets directly from a global community of over 300,000 contributors, who are rewarded for their participation.
At a glance
- Status
- Operational
- Founded
- 2021
- Headquarters
- New York City, United States
- Employees
- 29
- Open positions
- None listed
- Dealroom signal
- 31.6/100
- Industry
- Enterprise Software
- Sector
- AI, Cloud Computing, Decentralised Applications, Metaverse, MLops, Hard Tech, AI Data Preparation and Generation, AI Model Training and Development
- Technology
- Blockchain, Artificial Intelligence
- Business model
- SaaS
- Client focus
- b2b
Latest news
Press, funding announcements and product moves mentioning Oort.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VCOther financing | Jan 2024 | $10M | $40M | Redline Capital · Hike Ventures · Waterdrip Capital · Sanctor Capital | ↗ |
| LATE VCOther financing | May 2023 | $0 | — | EMURGO Ventures | — |
Growth signals
Latest recorded traffic for Oort is 4K monthly website visits, down 56% over the last three months. Oort's team declined 6.5% over the past year.
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed2 investors entered at this stage
Redline Dao
Aves Lair
Series A11 investors entered at this stage
Redline Capital
Hike Ventures
Waterdrip Capital
Sanctor Capital- RVRed Beard Ventures
Alphabet | Google
Link VC
Optic Capital
Trinity Ventures
Microsoft for Startups MEA
Taisu Ventures
Series B and later1 investor entered at this stage
EMURGO Ventures
Other known investors1 additional known investor
Redbeard Ventures
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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