Impossible Cloud, a decentralized cloud platform, has just completed a seed round in which it has raised a total of $7 million.
The investment round was reportedly led by HV Capital and 1kx. In addition, other participants include Protocol Labs, TS Ventures and Very Early Ventures.
Total funding for the startup, together with new capital, has approached $11 million.
The company was co-founded by Goodgame Studios founder Kai Wawrzinek, former Airbnb CEO Christian Kaul, and former D2iQ open source developer Daniel Baker.
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The company's goal is to solve the problems of centralized cloud platforms like Amazon, Microsoft and Meta, which suffer from complex pricing models, volume limits and a single point of failure.
According to the startup's co-founders:
"More generally, we’re targeting companies that already incur more than $10,000 in Cloud storage bills and want to save up to 70% of their monthly total cost of ownership."