Nous Research has become a focal point for 2025 due to its strong capabilities in the AI sector. The fundraising performance is impressive—$5.2 million in seed funding, followed by a $50 million Series A led by Paradigm, bringing the total funding to $55.2 million, showcasing a formidable lineup of investors.

On the product side, rapid iteration continues. Several products have been officially released, including Hermes 4, Hermes 4.3, and Nomos 1, with a clear technical roadmap. More importantly, the project has begun monetization—launching a premium chat monthly subscription model and multi-model paid services, indicating that the product has moved beyond proof of concept and is transitioning toward commercialization. Community engagement remains high, and product updates are frequent. However, the token issuance (TGE) schedule has not been disclosed yet. Overall, this is a team with strong fundraising ability, product competitiveness, and exploration of business models.