Numerai Don Raise $30M Series C We Universities Dey Lead, NMR Up 40%

Numerai get $30 million Series C funding wey top university endowments lead, e boost dia valuation reach $500 million—five times pass wetin e be for 2023. Di existing investors like Union Square Ventures, Shine Capital and Paul Tudor Jones join for dis funding round. Together wit JPMorgan Asset Management capacity commitment of $500 million, Numerai assets under management don reach $550 million, from $60 million wey e be three years ago and e dey on track to nearly hit $1 billion. Di AI hedge fund wey dey San Francisco dey use global data science tournament to gather machine learning models, dem dey reward accurate predictions wit Numeraire (NMR) tokens. Di flagship Meta Model generate 25.45% net returns for 2024, with only one down month. After Numerai Series C announcement, NMR token jump over 40% reach around $11.65 on CoinGecko, wey show say institutional confidence dey high. Numerai plan to use di money to expand AI engineering, research capabilities and institutional products.