Impossible Cloud Raised €7.6 Million for Seed Round

Impossible Cloud GmbH, the cloud platform that offers decentralized, multi-service cloud solutions, announced an oversubscribed €7.6 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 flat-based payment system and business model catering to B2B customers. This 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.

The company ensures high level of security and compliance by combining the intrinsic benefits of web3 security with security protocols, and by operating out of enterprise-grade data centers that are compliant with standards such as ISO27000, SOC 2 Type II, and 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, HV Capital.

“Decentralization can breed resilience and antifragility in large-scale software networks,” said Lasse Clausen, founding partner,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 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, Protocol Labs Ventures.

Impossible Cloud is led by a team of experienced technology-company founders, including Wawrzinek, Dr. Christian Kaul and Daniel Baker. The team has a track record in helping to build publicly traded unicorn companies, including Goodgame Studios, Stillfront, Airbnb, and Iron Mountain. The start-up has already garnered significant interest from potential customers and is working closely with SaaS providers to integrate its 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 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 USA, build an elastic network of enterprise-grade storage hubs, and expand the capabilities of its platform.