Zug-based Impossible Cloud Network (ICN), a data-sovereign Web3 cloud platform powering over 1,000 enterprise clients, in the present day introduced €28.8 million in whole enterprise funding, propelling the agency to a post-money valuation of greater than €398 million.
The oversubscribed financing combines new capital with beforehand unreported investments together with earlier backing from 1kx, Protocol Labs, No Restrict Holdings and HV Capital. The most recent strategic spherical was led by NGP Capital.
This announcement is paired with the official launch of ICN’s native token $ICNT.
“In lower than two years, we’ve confirmed that decentralised cloud can outperform large tech,” mentioned Dr Kai Wawrzinek, Co-founder & CEO of ICN. “With $34 million raised and the most important exchanges behind us, we’re set to convey sovereign, cost-efficient options to each enterprise and developer on the planet.”
Based in 2024, ICN is constructing a permissionless, open cloud community with the objective of rivaling Massive Tech giants like Amazon Net Providers (AWS) and Google. With their decentralised cloud providers, ICN appears to be like to put the muse for a scalable, safe, and community-driven world cloud that helps enterprise, AI, gaming, functions, and end-users.
With real-world adoption producing €5.9 million of ARR (a 2000% YoY surge) and a imaginative and prescient for over 200 decentralised cloud providers, ICN needs to place itself as a real different to “monopolistic hyperscalers“.
“ICN’s decentralised structure solutions the enterprise name for sovereign, high-performance cloud infrastructure. We’re excited to assist scale a platform that’s already producing worth for an trade that requires safe knowledge options now greater than ever ” mentioned Ossi Tiainen, Associate at NGP Capital.
The contemporary backing accelerates ICN’s mission to ship enterprise-grade, decentralised storage and compute that’s reprotedly as much as 80% more cost effective than conventional hyperscalers, all whereas guaranteeing full knowledge sovereignty.
“We invested in ICN as a result of they’ve achieved what most infrastructure tasks solely discuss, actual income, enterprise shoppers, and a transparent roadmap past storage. Their potential to execute at scale, paired with a pointy go-to-market technique, satisfied us they’re constructing one thing sturdy in a decentralised cloud,” mentioned Gin Chao, Founding father of No Restrict Holdings.
ICN has additionally confirmed that its native token, $ICNT, will debut on a number of centralised exchanges (CEXs), together with Binance, Bybit, Kraken, Bitget, Gate, KuCoin, Bitvavo, MEXC, and Bitpanda, following the information of the funding milestone.
Every CEX has green-lit the listed and open world entry to the token that underpins ICN’s decentralised bodily infrastructure community (DePIN)-driven cloud market.
“At 1kx, we again token networks that create options for real-world issues. ICN’s enterprise adoption fee demonstrates a major demand for trust-minimised and cost-efficient cloud options. ICN’s demand traction and market main GTM engine is their moat, and places them already in a league of the likes of Amazon Net Providers, Google Cloud Platform, and Microsoft Azure,” acknowledged Christopher Heymann, Founding Associate at 1kx.
ICN has delivered over 80 petabytes (PB) of dwell storage capability throughout enterprise nodes in Europe and america, with an additional 250 PB set to return on-line throughout three continents.
“Protocol Labs has been championing open, verifiable storage for a very long time, and ICN extends these ideas to an entire cloud stack. We’re proud to help the crew on its journey and look ahead to seeing how far it may possibly take us towards true full knowledge sovereignty,” mentioned Lacey-Ann Knowledge, Basic Associate at Protocol Labs.
Whereas storage is the beachhead, the roadmap for ICN now spans over 200 deliberate providers that may prolong the platform into compute, AI inference, and edge networking. Guiding this growth is a founding crew with two prior nine-figure exits and over 20 patents in distributed-system design.
“We put money into leaders, and ICN is already the market-share chief in decentralised cloud. Its development metrics are among the many strongest we’ve seen, and with this newest valuation replace, it’s clear there’s extra development to return. We’re glad to be a part of that,” mentioned Jan Miczaika, Associate at HV Capital.
