MIT spinout Conduit was founded in 2017 to commercialise a decentralised cloud computing concept drawing upon the spare processing resources of IT clusters.
Conduit, a US-based cloud computing technology developer spun out of Massachusetts Institute of Technology (MIT), has made its official debut with a service aggregating spare cloud computing capacity, BostInno reported yesterday.
Founded in 2017, Conduit offers a cloud computing technology that supplies clients with processing heft from the excess capacity available at computing clusters such as those hosted by universities and research institutions.
Conduit’s service currently relies on excess capacity leased from MIT’s Lincoln Laboratory, a national security-focused research hub funded by the US Department of Defense.
In time, the company expects to supply processing power from other institutions, with the ultimate goal of forming a decentralised blockchain computing network deploying capacity from legion IT networks.
The technology is initially being marketed to drug developers that require significant computing resources for a technique called parallelisation, which involves splitting drug design tasks between multiple computers to quickly attain granular results.
Conduit has already partnered medium-sized pharmaceutical businesses in the Boston area, and will also aim to take its services into segments including fintech, logistics and quantum computing.
The spinout does not appear to have disclosed funding previously. It was founded by Ryan Robinson, an MIT alumnus who earned his bachelor’s degree in quantum computing and information theory.
