Decentralized cloud platform Cere Network raises an additional $5M
Cere Network, a Decentralized Data Cloud (DDC) platform in alignment with Polkadot, optimized for service data integration and data collaboration. has announced a $5 million private round and the launch of their platform to developers.
The round was led by Republic Labs, with other participants including Woodstock Fund, JRR Capital, Ledger Prime, G1 Ventures, ZB exchange, and Gate.io exchange. Cere Network previously raised $5 million from Binance Labs and Arrington XRP Capital, amongst others, bringing their total raised to $10 million.
Republic Labs, the investment arm of the crowdsourced funding platform, Republic, will be the first blockchain company investment for the firm. Republic has previously held public investment opportunities in SpaceX, Carta, Robinhood, and Relativity Space.
“Republic has been empowering retail investors for years while spinning off of AngelList,” said Fred Jin, CEO of Cere. “They’ve given people the opportunity to get in early on companies that traditionally have raised money from the Silicon Valley elite. We are honored that they have chosen us as their first blockchain token offering while leading our private round.”
Less than 3% of startups pass through Republic’s due diligence and investment committee, with investors able to participate with a minimum of $10. The Cere DDC platform launches to developers today, which allows thousands of data queries to be hosted on-chain.
The platform offers a more secure first-party data foundation in the cloud by using blockchain identity and data encryption to onboard and segment individual consumer data. This data is then automated into highly customizable and interoperable virtual datasets, directly accessible in near real-time by all business units, partners/vendors, and machine-learning processes. The CERE token will be used to power its Decentralized Data Cloud and fuel Cere’s Open Data Marketplace that allows for trustless data-sharing amongst businesses and external data specialists, as well as staking and governance.
“We’ve been following Cere Network for some time and have been impressed with the team and the market fit – and need – for a decentralized data cloud. We’re very excited to host Cere Network’s token sale on Republic, which will ensure a decentralized network and faster adoption in the enterprise space of blockchain technology. Their DDC improves upon Snowflake using blockchain identity and data encryption to onboard and segment individual consumer data.”
– Boris Revsin, Managing Director of Republic Labs
The public sale of the CERE token will be held on Republic March 31st, the first token sale on the platform.
Developers can access the Cere DDC here at ddc.dev.cere.network.