Latest news with #Wawrzinek
Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
ICN Launches $ICNT, latest investment signals $470 million valuation
ZUG, Switzerland, July 3, 2025 /PRNewswire/ — Impossible Cloud Network launches token on Bybit, Binance, Kraken, and other major exchanges following $34 million ecosystem raise Impossible Cloud Network (ICN) – a decentralized cloud services provider– is today announcing the launch of its $ICNT token through Tier 1 centralized exchanges Bybit, Binance, Kraken, Bitget, and more. The token launch follows a recently announced investment (valuation: $470 million) from NGP Capital, a deep tech fund that backed Xiaomi and Helium. ICN is the first decentralized cloud provider to match and surpass centralized hyperscalers in latency, availability, and performance. Its service is live and operating a fully open, multi-service, permissionless, and composable cloud infrastructure that integrates storage, compute, and networking at scale. The token listing comes just weeks after ICN attracted a substantial valuation of $470 million from Nokia-backed investor NGP Capital, which joined 1kx, No Limit Holdings, Protocol VC, HV Capital, and more in investing a total of $34 million into ICN. The Switzerland-based cloud network has substantial traction inside its ecosystem, handling over 23,000 cloud requests per second from its 1,000+ enterprise customers. This makes ICN one of the biggest revenue-generating decentralized physical infrastructure networks (DePINs) in the industry and places it in pole position to win the AI infrastructure race. ICN's CEO and co-founder is Kai Wawrzinek, a seasoned, billion-dollar company founder who successfully led his project, Goodgame Studios, to NASDAQ unicorn status in 2017. Commenting on the launch of $ICNT, Wawrzinek says: 'As a decentralized cloud provider, ICN is successful because it meets a genuine, growing need. ICN will win the decentralized infrastructure race — because we control the data layer. Once compute goes live, we'll unbundle the internet.'$ICNT will play a pivotal role in ICN's ecosystem, allowing anyone to participate in the network's growth by earning rewards from HyperNodes. $ICNT is used both for provisioning hardware capacity and for staking to secure cloud workloads. This ties the token to real-world infrastructure and the strong and growing demand that ICN's ecosystem is experiencing. ICN is riding a confluence of multiple strong tailwinds in the cloud industry. These include incredible demand for AI, associated hardware shortages, and an increasingly urgent need for sovereign cloud solutions apart from those offered by US hyperscalers. Combined, these drivers are calling for a new foundational layer for the next generation of the internet that can challenge the dominance of centralized tech giants – a layer ICN is pioneering. About Impossible Cloud Network (ICN) Impossible Cloud Network (ICN) is building a permissionless, open cloud network to rival Big Tech giants like Amazon Web Services (AWS) and Google. With resilient, high-performance decentralized cloud services, ICN is laying the foundation for a scalable, secure, and community-driven global cloud that supports enterprise, AI, gaming, applications, and end-users. With real-world adoption already generating million-dollar revenue and a vision for 200+ decentralized cloud services, ICN offers a true alternative to monopolistic hyperscalers. About ICN: Full information on $ICNT : $ICNT on Bybit: Contact Rebecca Jones Block3 PR rebecca@ Photo –
Business Insider
a day ago
- Business
- Business Insider
ICN Launches $ICNT, latest investment signals $470 million valuation
Impossible Cloud Network launches token on Bybit, Binance, Kraken, and other major exchanges following $34 million ecosystem raise Impossible Cloud Network (ICN) – a decentralized cloud services provider– is today announcing the launch of its $ICNT token through Tier 1 centralized exchanges Bybit, Binance, Kraken, Bitget, and more. The token launch follows a recently announced investment (valuation: $470 million) from NGP Capital, a deep tech fund that backed Xiaomi and Helium. ICN is the first decentralized cloud provider to match and surpass centralized hyperscalers in latency, availability, and performance. Its service is live and operating a fully open, multi-service, permissionless, and composable cloud infrastructure that integrates storage, compute, and networking at scale. The token listing comes just weeks after ICN attracted a substantial valuation of $470 million from Nokia-backed investor NGP Capital, which joined 1kx, No Limit Holdings, Protocol VC, HV Capital, and more in investing a total of $34 million into ICN. The Switzerland-based cloud network has substantial traction inside its ecosystem, handling over 23,000 cloud requests per second from its 1,000+ enterprise customers. This makes ICN one of the biggest revenue-generating decentralized physical infrastructure networks (DePINs) in the industry and places it in pole position to win the AI infrastructure race. ICN's CEO and co-founder is Kai Wawrzinek, a seasoned, billion-dollar company founder who successfully led his project, Goodgame Studios, to NASDAQ unicorn status in 2017. Commenting on the launch of $ICNT, Wawrzinek says: 'As a decentralized cloud provider, ICN is successful because it meets a genuine, growing need. ICN will win the decentralized infrastructure race — because we control the data layer. Once compute goes live, we'll unbundle the internet. '$ICNT will play a pivotal role in ICN's ecosystem, allowing anyone to participate in the network's growth by earning rewards from HyperNodes. $ICNT is used both for provisioning hardware capacity and for staking to secure cloud workloads. This ties the token to real-world infrastructure and the strong and growing demand that ICN's ecosystem is experiencing. ICN is riding a confluence of multiple strong tailwinds in the cloud industry. These include incredible demand for AI, associated hardware shortages, and an increasingly urgent need for sovereign cloud solutions apart from those offered by US hyperscalers. Combined, these drivers are calling for a new foundational layer for the next generation of the internet that can challenge the dominance of centralized tech giants – a layer ICN is pioneering. About Impossible Cloud Network (ICN) Impossible Cloud Network (ICN) is building a permissionless, open cloud network to rival Big Tech giants like Amazon Web Services (AWS) and Google. With resilient, high-performance decentralized cloud services, ICN is laying the foundation for a scalable, secure, and community-driven global cloud that supports enterprise, AI, gaming, applications, and end-users. With real-world adoption already generating million-dollar revenue and a vision for 200+ decentralized cloud services, ICN offers a true alternative to monopolistic hyperscalers. Block3 PR
Yahoo
23-05-2025
- Business
- Yahoo
NGP Capital backs Impossible Cloud Network at $470m valuation
ICN wins investment from tech VC to expand decentralized cloud services ZUG, Switzerland, May 23, 2025 /PRNewswire/ -- Impossible Cloud Network (ICN), Web3's leading decentralized cloud network, is announcing a new investment from NGP Capital, the venture capital firm that invested in Helium, is backed by telecommunications giant Nokia, and has just valued ICN at $470 million. Led by tech entrepreneur Kai Wawrzinek, founder of NASDAQ Unicorn Goodgame Studios, ICN is meeting increasing demand for data-sovereign cloud solutions. The funding round from NGP has attracted substantial interest from Web2 leaders keen to expand into this growing sector. Commenting on this significant milestone, Wawrzinek says: "With NGP Capital, we've found a perfect partner with deep expertise in cloud and edge computing that can advise on large-scale infrastructure projects. We are thrilled to be partnered with an investor who believes in ICN's vision." With over $5 million of annual recurring revenue, ICN is already proving the case for decentralized cloud models, which offer significant cost savings compared to centralized providers. ICN's research shows decentralized cloud solutions are 80% cheaper for enterprises than Amazon Web Services (AWS), while network performance is often superior. More than this, decentralized cloud services are immune to centralized data control, manipulation, and information loss. By their very nature, decentralized networks also promote user empowerment and foster data sovereignty – both increasingly important factors in the age of AI. NGP Capital has a history of backing transformative Web2 and Web3 companies, including Xiaomi and Helium. The firm has over $1.6 billion of assets under management and boasts 19 unicorns and 11 IPO exits. As such, its investment in ICN is a strong signal that data sovereignty and decentralized architecture are crucial future technologies. Ossi Tiainen, Partner of NGP Capital, says, "We believe ICN's innovative decentralized approach has the potential to reshape the global cloud landscape, providing data protection and data sovereignty where it doesn't exist now. The company's impressive traction and experienced team make ICN a serious contender among the next generation of cloud infrastructure providers, and we're excited to be on board." ICN is currently poised to list its native token $ICNT, which will play a pivotal role in the ecosystem by rewarding independent node operators and providing governance rights to key stakeholders. The token's upcoming launch on leading centralized exchanges will boost both accessibility and ecosystem growth as the firm expands globally. About Impossible Cloud Network (ICN) Impossible Cloud Network (ICN) is building a permissionless, open cloud network to rival Big Tech giants like Amazon Web Services (AWS) and Google. With resilient, high-performance decentralized cloud services, ICN is laying the foundation for a scalable, secure, and community-driven global cloud that supports enterprise, AI, gaming, applications, and end-users. With real-world adoption already generating million-dollar revenue and a vision for 200+ decentralized cloud services, ICN offers a true alternative to monopolistic hyperscalers. Users can learn more about ICN: About NGP Capital NGP Capital is a global VC that invests in early-stage technology companies across Europe and the US. For over two decades, NGP has invested in more than 120 companies, of which 19 became unicorns and 11 went on to IPO. Some of the companies NGP has backed include Lime, GetYourGuide, Helium, Deliveroo, The Exploration Company, and Xiaomi. Users can learn more about NGP Capital at: ContactRebecca JonesBlock3 PRrebecca@ Photo: View original content to download multimedia: SOURCE Impossible Cloud Network Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
