Impossible Cloud Raises $34 Million

Impossible Cloud Network (ICN) has raised $34 million in a venture funding round to support the growth of its decentralized web3 cloud storage and compute platform. The company, which serves more than 1,000 enterprise customers, announced that the round brings its post-money valuation to $470 million. NGP Capital led the round, which also included previously unreported investments from 1kx, Protocol Labs, No Limit Holdings, and HV Capital.

Impossible Cloud Raises $34 Million

Impossible Cloud Network Raises $34 Million

ICN aims to provide enterprise-grade cloud services that are more cost-efficient than traditional hyperscale providers. According to the company, its decentralized infrastructure can reduce costs by up to 80 percent while offering complete data sovereignty. The company positions itself as a competitor to established providers such as Amazon Web Services, emphasizing performance, scalability, and sovereignty as its key differentiators.

Enterprise Adoption and Market Strategy

ICN has reported significant traction in the enterprise market, with more than $7 million in annual recurring revenue. This marks a 2000 percent year-over-year increase. The company currently delivers over 80 petabytes of live storage capacity through enterprise nodes based in Europe and the United States. An additional 250 petabytes are planned to come online across three continents, reflecting ICN's continued infrastructure expansion.

The company’s go-to-market strategy and revenue generation were key factors in attracting investor interest. Investors noted ICN’s ability to secure enterprise clients and deliver a clear development roadmap beyond storage. According to n interview with GamesBeat Gin Chao, founder of No Limit Holdings, says ICN has demonstrated execution at scale, which sets it apart from many other infrastructure projects in the web3 space. The company’s roadmap includes more than 200 planned services in areas such as compute, artificial intelligence inference, and edge networking.

Impossible Cloud Raises $34 Million

Support from Strategic Investors

Several investment firms have expressed their rationale for backing ICN. NGP Capital emphasized that ICN’s decentralized architecture aligns with growing enterprise demand for secure and sovereign cloud solutions. 1kx highlighted the company’s fast enterprise adoption and its approach to solving real-world infrastructure challenges. Protocol Labs, known for supporting open and verifiable storage technologies, described ICN as an extension of those principles into a full cloud stack.

HV Capital cited ICN’s growth metrics and market leadership in the decentralized cloud sector as key factors behind their continued support. The company’s valuation and commercial progress suggest a strong position within the evolving cloud infrastructure landscape.

Impossible Cloud Raises $34 Million

Token Launch and Exchange Listings

Following the funding announcement, ICN confirmed that its native token, $ICNT, will be listed on several centralized exchanges. These include Binance, Bybit, Kraken, Bitget, Gate, KuCoin, Bitvavo, MEXC, and Bitpanda. Each platform has approved the listing, which will provide global access to the token. $ICNT underpins ICN’s decentralized physical infrastructure network (DePIN), which supports the operation of its cloud marketplace.

The token launch is intended to support ICN’s ecosystem by enabling greater participation and facilitating infrastructure deployment across multiple regions. The listings on major exchanges are expected to enhance liquidity and broaden the user base of the platform.

Impossible Cloud Raises $34 Million

Decentralized Cloud Infrastructure

ICN’s progress comes at a time of growing interest in web3 infrastructure solutions. With increasing attention to data sovereignty, cost efficiency, and decentralized technologies, the company is positioning itself to meet enterprise demands across sectors. Its founding team, which includes individuals with previous nine-figure exits and over 20 patents in distributed system design, is guiding the next phase of development.

The company’s plans to expand into compute and AI services reflect a broader shift toward integrated decentralized cloud platforms. As the demand for scalable and secure infrastructure continues to rise, ICN aims to offer a viable alternative to centralized cloud providers by leveraging a web3-native architecture.