CUDOS Raises £10million in Funding!
We are incredibly grateful for the support from our community and our strategic backers for believing in our vision, our team, our technology and our mission to build and power web 3.0.
We would like to thanks our specialised strategic backers: Moonrock Capital, GBV, Spincrypto Capital, Coinvision Research, BlackDragon Research, MoonWhale Ventures, OutlierVentures, DoublePeak, Psquare Capital, CSP DAO, Crypto Snack, Exnetwork Capital, DuckDAO, Brilliance Ventures, BMW Capital, Floem Capital.
Through a series of highly successful fundraising rounds, we were able to raise £10 million through the following:
- £2m in seed funding
- £2m pre-series A
- $3.7m during our token raise
- £2.2m via ASA (advanced subscription agreement)
- £1m from our strategic backers
Following the raise we had one of the most successful launches on the Bitmax exchange programme, attracting the attention of crypto influencers and investors across the space. CUDOS is bridging the gap between traditional cloud (Which is a $200bn per year industry) and blockchain enabling the scalability and flexibility of traditional cloud infrastructure with the decentralised and trustless nature of blockchain.
With the current state of the cloud service industry, if you want to scale computing you typically need to use the large hyperscalers such as AWS, Google and Alibaba. These are very expensive resources and you pay a premium.
CUDOS enables traditional cloud computing to scale on the CUDOS network and makes the most out of spare computing capacity. You also expect to consume these resources via known API’s which is what is used to enable scalability.
CUDOS was founded in 2017 by Matt Hawkins, a serial entrepreneur with a strong background in the cloud computing space. Matt previously built C4L which was one of the UK’s largest cloud and data centre providers. C4L became a leading cloud service provider, providing 1% of the UK’s cloud infrastructure.
The CUDOS platform is a cross-chain decentralized compute network being designed to empower the infrastructure of Web 3.0. It will enable anyone to sell or consume decentralised computing resources either via blockchain and smart contract or via more traditional cloud computing API’s. Cudos clients can, therefore, harness cloud computing resources securely and at a much lower price as opposed to centralized alternatives. On the other hand, hardware owners are incentivized to share their computing resources in order to provide end-customers with low-latency and cost-effective resources
To keep up to date on that and all updates regarding the CUDOS token, and to find out more about all the exciting solutions we’re working on, please visit our website and follow us on our social media channels linked below.