Cumulus Encrypted Storage System Raises $8 Million in Series A Funding

Cumulus Encrypted Storage System Raises $8 Million in Series A Funding

The News: Cumulus Encrypted Storage System (CESS), a blockchain-based decentralized storage solution, recently raised $8 million in Series A funding. The funding 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. You can find more information on the CESS website.

Cumulus Encrypted Storage System Raises $8 Million in Series A Funding

Analyst Take: CESS recently secured $8 million in a Series A funding round to further fund its blockchain-based decentralized storage solution. CESS states that, “The funds will be instrumental in propelling our technological innovations, expanding our global footprint, and solidifying our position as a leader in decentralized infrastructure.”

CESS provides another entry into the decentralized storage market alongside solutions such as Storj, Sia, and Filecoin. The CESS platform distinguishes itself with several unique attributes including a Random Rotational Selection (R²S) mechanism to provide network stability, a Proof of Reduplication and Recovery (PoDR²) algorithm providing availability and security, and Multi-Format Data Confirmation (MDRC) to protect data ownership.

CESS aims to provide a decentralized storage network that can provide high performance, scalability, and reliability. CESS offers storage solutions across hot, warm, and cold data requirements and claims 99.99% availability, 11 Nines of durability, and zero file loss. A high-level architecture diagram of the solution can be seen below.

Cumulus Encrypted Storage System Raises $8 Million in Series A Funding
Image Source: CESS

It is still relatively early days for CESS, with the recent launch of mainnet v1.0 occurring in 2023. The roadmap for the project lists additional milestones for 2024 including “Implementing CESS storage data network 2.0” and “Complete the security and stability of the CESS storage system enterprise storage network.” While the solution is relatively young, it brings a new and innovative addition to the decentralized storage market and the recent Series A funding provides significant momentum toward future development.

Disclosure: The Futurum Group is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.

Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of The Futurum Group as a whole.

Other Insights from The Futurum Group:

Storj Releases Storj Select Feature to Meet Customer Compliance Needs

VAST Receives $118 Million in Series E Funding

Quantum Announces General Availability of Myriad

Author Information

Mitch comes to The Futurum Group through the acquisition of the Evaluator Group and is focused on the fast-paced and rapidly evolving areas of cloud computing and data storage. Mitch joined Evaluator Group in 2019 as a Research Associate covering numerous storage technologies and emerging IT trends.

With a passion for all things tech, Mitch brings deep technical knowledge and insight to The Futurum Group’s research by highlighting the latest in data center and information management solutions. Mitch’s coverage has spanned topics including primary and secondary storage, private and public clouds, networking fabrics, and more. With ever changing data technologies and rapidly emerging trends in today’s digital world, Mitch provides valuable insights into the IT landscape for enterprises, IT professionals, and technology enthusiasts alike.

SHARE:

Latest Insights:

Nirav Sheth and Raphael Meyerowitz join Patrick Moorhead to delve into the transitions within the IT landscape following the VMware acquisition, focusing on innovation and adaptation in virtualization and cloud strategies.
Focus on Accelerating Software-Defined Vehicle Development with Standardized Compute Subsystems
Olivier Blanchard, Research Director at Futurum, shares insights on Arm’s Zena Compute Subsystems, which help automakers cut vehicle launch time by a year and scale AI capabilities across software-defined vehicles.
AMD Introduces the Ryzen 5 5500X3D, a 6-Core Zen 3 CPU With 3D V-Cache, Designed Exclusively for the Latin American Market To Serve Budget-Conscious PC Gamers
Olivier Blanchard, Research Director at Futurum, shares insights on AMD’s Latin America-exclusive Ryzen 5 5500X3D and what the move says about the company’s long-term support for the aging AM4 platform.
Lenovo Unveils Workstation, ThinkStation, and Services Portfolio Updates at NXT BLD 2025
Olivier Blanchard, Research Director at Futurum, shares his insights on Lenovo’s new workstation offerings and ThinkStation upgrades designed to optimize remote performance, AI development, and spatial computing workflows.

Book a Demo

Thank you, we received your request, a member of our team will be in contact with you.