They’re VC-funded and their business model is vendor lock-in. See their response to my discussion:
https://github.com/fermyon/spin/discussions/861
With WasmEdge there is no vendor lock-in
https://github.com/fermyon/spin/discussions/861
With WasmEdge there is no vendor lock-in
Both Spin and the Fermyon Platform are open-source projects. Fermyon Cloud is a managed service built on top of the Fermyon Platform.
In comparison with WasmEdge, the WebAssembly runtime used in Spin is Wasmtime, which is also open sourced and built by the Bytecode Alliance.
Hope this expands upon the existing response.