Israeli AI Startup's Digital Coin Soars 520% in Three Months
Translated & summarized from Ice by baba
Israeli startup Pearl Research Labs has seen its digital currency skyrocket by 520% in three months, reaching a $710 million market cap. The company, which aims to reduce energy consumption in blockchain by integrating AI computations, has raised $130 million. Its coin is set to be listed on Coinbase, a major US exchange, which will serve as a significant test for its future success.
The story in 6 lines · by baba
- Israeli startup Pearl Research Labs' digital coin has surged 520% in three months.
- The coin's market capitalization has reached $710 million since its late April launch.
- Coinbase, a major US crypto exchange, announced plans to list the digital currency.
- Pearl aims to reduce blockchain energy waste by using AI computational tasks.
- The company has raised approximately $130 million in funding.
- The upcoming Coinbase listing is seen as a critical test for the Israeli venture.
Pearl Research Labs, a young research lab from Tel Aviv, has emerged as an unexpected star in the global cryptocurrency industry. Despite maintaining a low public profile in Israel, the company has generated significant international excitement with its digital currency, which launched in late April. The coin has surged approximately 520% in just three months, reaching a market capitalization of $710 million. This buzz intensified after Coinbase, a major US crypto exchange, announced its intention to list the coin for trading. According to analysis in "TheMarker," Pearl's rapid growth strategy has been conducted away from the spotlight. The company has raised about $130 million to date, including $55 million from leading funds like Lightspeed, Ribbit Capital, and Square Peg, and an additional $75 million for acquiring advanced GPU processing power.
Pearl's ambitious vision, which has led some market players to dub its coin the "Bitcoin of the AI era," aims to address the significant energy waste associated with traditional blockchain mining. Instead of using electricity to solve complex mathematical equations for network security, Pearl's protocol utilizes computational tasks essential for running AI models on Nvidia processors. The company was founded in February 2025 by academics and experienced entrepreneurs, including Professor Omri Weinstein, Professor Ilan Komargodski, and Idan Shugerman, a co-founder of Quant-Hellos.
With around 35 employees, including notable scientists like Professor Raphael F. Pes, Pearl collaborates with cloud providers such as the US-based Together AI, which offers clients significant discounts on AI model execution through coin accumulation. However, some market observers express caution, suggesting the coin's rapid valuation reflects high future expectations before its commercial model is proven in the cloud and AI markets. Investors are now focused on the upcoming Coinbase listing, which will be a crucial test for the Israeli venture's ability to lead the next wave of the blockchain industry.
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