Pearl Labs raised $130M from Lightspeed and Ribbit Capital, contradicting earlier claims of a no-VC fair launch.
VC & Fundraising ·
Pearl Labs reportedly raised $130 million from Lightspeed, Ribbit Capital, and Square Peg, comprising $55 million in equity and $75 million for GPU infrastructure, according to reporting by Israel's main business paper. The funding contradicts Pearl's earlier "no-VC fair launch" narrative, as the lab backing the $PEARL token is now reportedly venture-backed, though the token's code allocates no tokens to founders or investors. Key unresolved questions include whether investors or insiders hold $PEARL tokens and whether the $75 million GPU fund mines $PEARL, details that have not been publicly disclosed.