Cumulus Encrypted Storage System (Cess), a Singapore-based provider of a blockchain-powered decentralized storage and CDN infrastructure for Web3, raised $8M in Series A funding.
The round was led by HTX Venture, Infinity Ventures Crypto, DWF Labs, Mentha Partners, Vespertine Capital , Web3 Foundation, Singchain Investment, 7 O’Clock Capital, SolrDAO, FishDAO, OneBlock+, Winkrypto, and Polkadot Ecology Research Institute.
The company intends to use the funds to provide decentralized data services for Web3.
Led by Nicholas Zaldastani, Co-Founder and Chairman, CESS is a blockchain powered decentralized storage and content delivery network (CDN) infrastructure for Web3. Users and creators alike use the platform for on-chain data sharing and value transactions, whilst builders can develop and deploy DApps whilst ensuring data sovereignty and user privacy.
CESS adopts multiple mechanisms and proprietary technologies to ensure the integrity, security, traceability, and privacy of data. For instance, Random Rotational Selection mechanism (R²S) resolves the “Miner’s Dilemma” and ensures a stable and efficient network. Proof of Reduplication and Recovery (PoDR²) guarantees data availability, integrity and security. Multi-Format Data Confirmation (MDRC) provides data ownership protection. CESS Proxy Re-Encryption Technology enables secure data sharing among authorized parties without revealing the data content.
The company incentivizes participation through a set of transparent and fair incentive mechanisms. Anyone can join CESS fairly to become candidate consensus miners through R²S, preventing large nodes from having a monopoly on the network. R²S also achieves low gas fees and 10,000 TPS.
CESS supports use cases such as Metaverse, NFT, DeFi, Streaming media, Social media, Gaming,RWA (real world assets) and all Web2 and Web3 storage, helping to build a diverse and robust ecosystem where transactions are secured by encryption and data ownership is returned to its rightful owners.
Overjoyed to see Cess raising $8M in Series A Funding. Congratulations to the entire team on your outstanding achievement!
~ Dr Shishir said Gupta founder & CEO of StartupLanes
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