Quick take:
- The company looks to provide its services through low-cost decentralized web services like Akash and Filecoin.
- Inovo VC led the seed round with participation from Notion Capital, 10x Founders, and Kestrel0x1.
- The company will use the funds to launch its decentralised scaling platform Kubernetes, build supply and accelerate go-to-market efforts.
NodeShift, a decentralised cloud service provider has announced a $3.2 million funding round led by Inovo VC. The fundraising also attracted participation from Notion Capital, 10x Founders, and Kestrel0x1.
Founded by former Cisco engineers Andrey Surkov and Mihai Mărcuță, NodeShift is leveraging the concept of discounting excess computing capacity used by large cloud providers to offer a single API that gives Web3 developers access to excess computing power.
NodeShift’s API connects independent data centre providers with low-cost decentralized web services like Akash and Filecoin, where Web3 builders can gain access to the excess computing power, storage and graphics accelerators.
“A lot of data centres have spare capacity just sitting out there — about 10 to 20% of spare capacity just sitting there — and there’s hundreds of data centres like this,” Mărcuță told TechCrunch. “The price is very, very affordable. If you compare it to traditional cloud providers, we’re talking about prices that are 70 to 80% cheaper.”
The company promises that its service can save users up to 70% in costs related to compute power compared to the rates offered by large cloud providers like Nvidia’s A100 GPUs.
The NodeShift team says their company has set up deals with independent data centres, allowing “developers to choose exactly where their projects are located (down to the data centre).”
The company said the data centres it works with have been certified by the Uptime Institute, giving them all the standard SOC 2 and ISO 27000 certifications an enterprise user would expect.
****
Stay up to date:
Subscribe to our newsletter using this link – we won’t spam!
