NodeShift, a decentralized cloud provider, raises $3.2M in new round of funding

NodeShift’s goal is to make it easy for developers to tap into affordable and secure web3 cloud infrastructure.

  • NodeShift enables businesses to run compute, GPU and storage workloads in the decentralized cloud through one simplified UI while reducing cloud costs up to 80%. 
  • $3.2m raised from Inovo Capital, Notion Capital, 10X Founders, Kestrel0x1, Arca, and Oxford Seed Fund, allows the company to publicly launch the product which has been used until recently in Alpha by publicly traded companies and Seed to Series B startups
  • In May 2023, NodeShift was selected by Intel Ignite out of 300 funded startups for its early-stage deep tech accelerator program, which offers hands-on mentorship and expertise to cutting-edge deep tech companies with industry-disrupting technologies. 

LONDON, Jan 2024NodeShift, a decentralized cloud provider that allows businesses to build and host secure applications affordably, has raised $3.2 million from Inovo Capital, Notion Capital, 10X Founders, Kestrel0x1, Arca, Oxford Seed Fund and Epic Games to launch their product publicly to developers at large.  

NodeShift’s goal isn’t to replace centralized cloud service providers, but to create a vital new space for businesses that prioritize infrastructure affordability, privacy, agility, and scalability.  

“The growth of peer-to-peer computing creates an open marketplace where cloud infrastructure prices are reduced given the transparent competition between independent data centers,” said Mihai Marcuta, co-founder of NodeShift. “Decentralization will fundamentally transform how the world does business.” 

The NodeShift platform makes it easy for developers to build their business applications securely in the cloud all while significantly reducing costs. NodeShift also boasts faster deployment times and enhanced reliability, thanks to its fault-tolerant design. 

“The NodeShift mission is to improve access to decentralized cloud computing resources and services for businesses everywhere. NodeShift aims to empower every business leader, and every developer, to access the essential cloud services they need to build and grow, at a cost they can afford,”
said Andrey Surkov, CEO of Nodeshift. 

NodeShift was selected by Intel Ignite, Intel’s early-stage deep tech startup accelerator program, and Intel Liftoff, Intel’s virtual startup program for AI startups. Intel Ignite, which offers hands-on support and expertise to cutting-edge deep tech companies with industry-disrupting technologies, selected NodeShift from an application pool that included 300 funded startups. As part of the process, Intel Ignite allocated distributed computing distinguished mentors to assist NodeShift in its launch. Since Intel Ignite’s began in 2019, its startups have collectively secured $1.8 billion in funding from leading technology investors.  

”NodeShift is gearing up to redefine cloud services with a new paradigm based on decentralization, which will create new opportunities for innovation and will change the existing market dynamics,said Markus Bohl, managing director of Intel Ignite Europe. “By being selected to both Intel startup programs, Intel Ignite and Intel Liftoff, the NodeShift founders will team up with experienced entrepreneurs, mentors, and engineers to create a solid foundation to get to the next level. This will enable NodeShift to accelerate the development of the technology of decentralization and scale up the business globally.” 

The new fundraise will allow NodeShift to release its solution to developers at large, from startups to traditional businesses.  

“The modern-day economy is powered by cloud services,” said Tim Ronan, managing partner at Kestrel0x1, which led the funding round. “Kestrel0x1 is thrilled to be backing the NodeShift project team as they innovate and redefine what is possible in the cloud.” 

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