<ul data-eligibleForWebStory="false"><li>Swiss cloud platform Impossible Cloud Network (ICN) based in Zug secures €28.8 million in funding, reaching a post-money valuation of over €398 million.</li><li>The funding round led by NGP Capital includes investments from 1kx, Protocol Labs, No Limit Holdings, and HV Capital, with the launch of ICN's native token $ICNT.</li><li>ICN aims to challenge Big Tech giants like Amazon Web Services by offering decentralized cloud services, currently generating €5.9 million in ARR with a vision for over 200 cloud services.</li><li>The platform provides enterprise-grade, decentralized storage and compute solutions, positioning itself as a cost-effective alternative to traditional hyperscalers, with plans to expand services into compute, AI inference, and edge networking.</li></ul>

Swiss cloud platform Impossible Cloud Network (ICN) secures €28.8 million to become an alternative to “monopolistic hyperscalers”

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