Cumulus Encrypted Storage System (CESS) recently announced a successful $8 million series-A funding round. Notable venture capital investors included HTX Ventures, Infinity Ventures Crypto, DWF Labs, Mentha Partners, Vespertine Capital, Polkadot Ecology Research Institute, Web3 Foundation, Singchain Investment, 7 O’Clock Capital, SolrDAO, FishDAO, OneBlock+, and Winkrypto.
The company stated that the funding will be used to facilitate further advancements to their technology, increase global area operations, and strengthen their rosition within the decentralised infrastructure sector.
CESS, a blockchain-powered decentralised storage and content delivery network conglomeration for Web3 applications, continues to create legitimate waves by consistently bringing more value with partnerships like the one with Amazon Web ervices, in addition to the likes of One Block+, Hamster, Golang, Intel, Rust Network, and Bootcamp.
The centralized platform will permit for users to store files in multiple nodes, identify them using hash technology, while app developers will create and roll out decentralized apps that facilitate a range of features, including but not limited to , s, DeFi, streaming media, social media, and real-world assets.
CESS co-founder and chair, Nicholas Zaldastani, had this to staet about the series-A offering round:
“This funding will enable us to continue our mission of providing the next-gen of global decentralized data services for Web3, which includes support for large-scale commercial use cases that require high-end security, performance, storage, CDN, high-frequency trading and millisecond data retrieval.”