Acurast has raised $5.4 million to use smartphones to power a global decentralized cloud computing network. The company raised the money in a community led investment round by premier cryptocurrency launchpad CoinList. The sale concluded on May 22, 2025, with Acurast’s ACU token priced at nine cents, resulting in a fully diluted valuation of $90 million.“Most of the newly raised capital will be used to enhance our protocol, which continues proving that compute can be verifiable, confidential, energy-efficient, and truly decentralised, powered by the phones in our pockets,” said Alessandro De Carli, president of the board and cofounder of Acurast, in a statement.Acurast has raised $5.4 million. Acurast enables users to participate in confidential compute tasks, decentralized AI, and blockchain infrastructure, all while earning rewards by leveraging the processing power of smartphones. The protocol transforms everyday phones into secure, decentralized compute nodes, powering a global networkspanning over 130 countries.Acurast has onboarded over 72,000 smartphones, or “compute units,” worldwide onto its decentralized testnet with over 256 million transactions, making it the most decentralized and verifiable computenetwork available today, eliminating the need for centralized data centers. Acurast utilizes Trusted Execution Environments (TEEs) and Hardware Security Modules (HSMs) of the mobile phones to ensure secure and scalable compute, while maintaining confidentiality without requiring trust in the device owner. “The ACU token lies at the heart of this economy. Acurast allows anyone and everyone to run compute with their mobile phones, providing real decentralisation, and become stakeholders in the networkpowering a secure, scalable and decentralised computer economy while incentivising activecollaboration and sustainable growth,” said De Carli.Over 300 websites and games were created on Acurast in the last 24 hours using just a prompt with Vibe Code and Deploy — live instantly on a decentralized network powered by phones. Acurast’s high-performance Proof of Stake blockchain orchestrates global demand and supply for secure decentralized compute, without centralized data centers. This chain verifies genuine hardware on-chain with Smartphone manufacture attestations and anchors confidential workloads, ensuring trustless and verifiable execution across billions of smartphones. Acurast’s Android and iOS apps offer end-to-end checks of each phone’s secure elements, delivering unstoppable trustless compute at scale. Acurast is creating a global decentralized cloud using smartphones in 130 countries. Acurast delivers a next-generation decentralized confidential compute platform, purpose-built for the demands of web3, AI, and beyond. Developers can seamlessly deploy and scale JavaScript, TypeScript, Node.js, and WASM workloads via a simple CLI, with access to thousands of NPM packages and deep integration across major ecosystems. Centered on openness, composability, and decentralization, Acurast forms the foundational layer for the decentralized compute economy, unlocking mass adoption and enabling unprecedented innovation for web3 and beyond. ACU tokens have a total supply of 1,000,000,000 tokens at genesis with the token utility being around network fees, settlement layers, staking and governance. Daily insights on business use cases with VB Daily If you want to impress your boss, VB Daily has you covered. We give you the inside scoop on what companies are doing with generative AI, from regulatory shifts to practical deployments, so you can share insights for maximum ROI. Read our Privacy Policy Thanks for subscribing. Check out more VB newsletters here. An error occured.