Impossible Cloud Network (ICN), a leading decentralized cloud network, announced a new investment from NGP Capital, valuing ICN at $470 million. Headed by tech entrepreneur Kai Wawrzinek, founder of NASDAQ Unicorn Goodgame Studios, ICN is meeting increasing demand for data-sovereign cloud solutions.
With $5+ million of annual recurring revenue, ICN is already proving the case for decentralized cloud models, which offer significant cost savings compared to centralized providers. And ICN’s research shows decentralized cloud solutions are 80% cheaper for enterprises than Amazon Web Services (AWS), while network performance is often superior.
Decentralized cloud services are immune to centralized data control, manipulation, and information loss. And by their very nature, decentralized networks also promote user empowerment and foster data sovereignty – both increasingly important factors in the age of AI.
NGP Capital has a history of backing transformative Web2 and Web3 companies like Xiaomi and Helium. And the firm has over $1.6 billion of assets under management and boasts 19 unicorns and 11 IPO exits. As such, its investment in ICN strongly signals that data sovereignty and decentralized architecture are crucial future technologies.
ICN is prepared to list its native token $ICNT, which will play a pivotal role in the ecosystem by rewarding independent node operators and providing governance rights to key stakeholders. And the token’s upcoming launch on leading centralized exchanges will boost accessibility and ecosystem growth as the firm expands globally.
KEY QUOTES:
“With NGP Capital, we’ve found a perfect partner with deep expertise in cloud and edge computing that can advise on large-scale infrastructure projects. We are thrilled to be partnered with an investor who believes in ICN’s vision.”
Kai Wawrzinek
“We believe ICN’s innovative decentralized approach has the potential to reshape the global cloud landscape, providing data protection and data sovereignty where it doesn’t exist now. The company’s impressive traction and experienced team make ICN a serious contender among the next generation of cloud infrastructure providers, and we’re excited to be on board.”
Ossi Tiainen, Partner of NGP Capital
