Web3: Impossible Cloud raises €7M to disrupt cloud computing

Impossible Cloud

The Impossible Cloud founding team – credit: Business Wire

Impossible Clouda German startup that develops a decentralized cloud storage solutionhas completed a financing round from 7 million euros co-directed by HV Capital and 1kx.

Founded in Hamburg in 2021, Impossible Cloud builds a solution for organizations offering storage for Big Data, backups and archives. The unique feature of its cloud-native architecture is that it takes advantage of Web3 technologies To provide faster, cheaper and more secure cloud storage.

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On Wednesday, the startup announced it had raised 7 million euros in a round of financing led by 1kx and HV Capital. Among the other investors, we note the presence of very early VenturesProtocol Labs and Laureus Capital.

We are excited to announce our €7 million seed funding to provide the first enterprise-grade decentralized cloud platform offering a full suite of services backed by a fiat payment system,” trumpeted Impossible Cloud in a Linkedin post.

According to Jan Miczaika, partner at HV Capital, the product designed by Impossible Cloud has the potential to Disrupt the cloud computing industry. “In addition to this revolutionary approach (Web3, ed.), the founding team has a strong track record of building and growing successful businesses,” he said.

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Impossible Cloud was imagined by several veterans of the technology sector: Kai Wawrzinek, Christian Kaul and Daniel Baker.

The new round of funding, which brings the startup’s total fundraising to $11 million, will allow it to accelerate the commercialization of its cloud storage solution.

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