Web3 startup Impossible Cloud soars with $7.6M in seed funding to revolutionize the decentralized cloud storage

Tech startups continue to struggle to raise new funds due to rising interest rates and the global economic slowdown. Startups in all industries including the web3 space are beginning to feel the pinch.

However, despite funding to web3 startups plummeting 74%  in Q4 of 2022, Hamburg, Germany-based Impossible Cloud just closed a $7.6M seed round, including backing from prominent investors that was 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 heavily oversubscribed Seed round brings the company’s funding to date to more than €10 million (approximately $10.9 million). Impossible Cloud will use the funding proceeds to accelerate the market entry of its cloud storage solution, which will bridge the gap between traditional and web3 businesses.

Led by Kai Wawrzinek, Christian Kaul, and Daniel Baker, Impossible Cloud is taking a different approach to decentralized cloud storage. The company offers a revolutionary cloud platform that offers decentralized, multi-service cloud solutions that supports an almost unlimited capacity of storage.

The Impossible Cloud 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.

Its platform 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 claimed to 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 new 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 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.

“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.