- Impossible Cloud raises heavily oversubscribed €7M (approximately $7.6M) seed round co-led by HV Capital and 1kx
- Its decentralized, enterprise-grade platform provides businesses with cheaper, faster, easier, and more secure cloud solutions
- Funding from both traditional and web3-specific investors plus a strategic investment from Protocol Labs (Filecoin, IPFS)
- Founding team – Kai Wawrzinek, Christian Kaul, Daniel Baker – has a proven track record in helping to build publicly-traded companies (Goodgame Studios, Stillfront, Airbnb, Iron Mountain)
Hamburg, Germany – March 1, 2023 – Impossible Cloud, the revolutionary cloud platform that offers decentralized, multi-service cloud solutions, announced today a heavily oversubscribed €7 million Seed round co-led by HV Capital and 1kx, and joined by Protocol Labs, TS Ventures, and very early Ventures. In addition to capital contributed by the founders, the Seed round brings the company’s funding to date to more than €10 million (approximately $10.9 million). The funding will be used to accelerate the market entry of its cloud storage solution, which will bridge the gap between traditional and web3 businesses.
Impossible Cloud’s platform supports an almost unlimited capacity of storage; it is designed for 100% durability and without any single point of failure, guaranteeing 99.95% availability above industry standard. Additionally, it can provide access to a global network of enterprise-grade storage hubs, enabling reliable performance and efficiency near the customer’s edge.
Impossible Cloud will be the first decentralized, enterprise-grade cloud platform offering a comprehensive suite of services backed by a fiat-based payment system and business model catering to B2B customers. This revolutionary approach delivers the key benefits of web3 technology, including increased speed, affordability and security, without the need to transact with tokens or cryptocurrency.
“Our ultimate goal is to create a decentralized, cost-effective, enterprise-grade cloud platform that will revolutionize the way businesses utilize cloud services, providing enhanced efficiency, elasticity, and security,” said Kai Wawrzinek, Co-Founder of Impossible Cloud.
The company ensures the highest level of security and compliance by combining the intrinsic benefits of web3 security with industry-leading security protocols, and by operating out of enterprise-grade data centers that are fully compliant with standards such as ISO27000, SOC 2 Type II, and many more.
“Cloud services have quickly disrupted countless industries, but today’s systems have already become ‘legacy’ and are riddled with limitations. We’ve reimagined what cloud storage can do and the value it delivers, accomplishing what many considered impossible,” added Wawrzinek. “Our partners at HV Capital, 1kx and TS Ventures are successful visionaries who understand the possibilities of web3, and we look forward to collaborating with them as we continue to build our team and bring our cloud storage solution to market. The co-investment from Protocol Labs, the most iconic company in web3 cloud storage, is the icing on the cake."
“Impossible Cloud is disrupting cloud computing. By entering the market with an enterprise-grade cloud storage ecosystem leveraging web3 technology, the company’s business model delivers the critical benefits of web3 for the enterprise cloud market. In addition to this revolutionary approach, the founding team has a strong track record of founding and scaling successful businesses,” said Jan Miczaika, Partner at HV Capital.
"Decentralization can breed resilience and antifragility in large-scale software networks," said Lasse Clausen, Founding Partner at 1kx. "We're excited to back this great team to bring decentralization and its benefits to global cloud computing."
"Our mission at Protocol Labs is to build and support the protocols, tools, and services that will radically improve the internet and drive breakthroughs to push humanity forward. With products serving thousands of organizations and millions of people, we hear first-hand the pain points in today's cloud ecosystem and recognize the massive opportunity for innovation and disruption. Impossible Cloud is helping drive B2B adoption of web3 services worldwide, and we’re excited about the developments their technology will bring to the space. The company’s exceptional group of founders brings the proven leadership and vision needed to meet the market demands head-on,” said Brad Holden Investment Lead at Protocol Labs Ventures.
Impossible Cloud is led by a team of experienced technology-company founders, including Kai Wawrzinek, Christian Kaul and Daniel Baker. The team has a proven track record in helping to build publicly traded unicorn companies, including Goodgame Studios, Stillfront, Airbnb, and Iron Mountain. Impossible Cloud has already garnered significant interest from potential customers and is working closely with leading SaaS providers to integrate their services into the platform.
"We are excited to be at the forefront of commoditizing web3 technology for mainstream business adoption, and confident that our decentralized, enterprise-grade cloud platform will be a game-changer in the cloud industry," said Dr. Christian Kaul. "We believe Impossible Cloud will play a major role in the way the internet will look in 5 to 10 years and be a major force in the cloud services market."
With its growing employee team, Impossible Cloud intends to incorporate in the United States, build an elastic network of enterprise-grade storage hubs, and expand the capabilities of its platform.
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About Impossible Cloud
Impossible Cloud is a revolutionary cloud platform that offers decentralized, multi-service cloud solutions. The platform is based on web3 technology and decentralized infrastructure, which allows it to be scalable, secure, and cost-effective. With just a single line of code, customers can access Impossible Cloud's cloud storage service. To learn more, please visit https://www.impossiblecloud.com/
About HV Capital
Since 2000 HV Capital, has invested in Internet and technology companies through various generations of funds and is one of the most successful and financially strongest early-stage and growth investors in Europe. HV Capital has already invested in around 200 companies, including Zalando, Delivery Hero, FlixMobility, Depop, and SumUp. The total of all HV Funds amounts to €1.7 billion. The company supports startups with capital between €500,000 and €50 million. This makes HV Capital one of the few venture capitalists in Europe that can finance startups through all growth phases. To learn more, please visit https://www.hvcapital.com/
About 1kx
1kx is a leading early-stage investment firm that partners with forward-thinking protocols, founders, and communities to help grow the crypto ecosystem. Supported by a team of leading technology engineers, investors, and entrepreneurs, 1kx takes a collaborative, hands-on approach to help the best and brightest minds in web3 grow and scale their platforms and build lasting community-driven networks. To learn more, please visit https://1kx.network/
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