Decentralized cloud infrastructure provider Hive has completed a $13 million Series A funding round, led by SC Ventures

ChainCatcher news, the cloud infrastructure provider Hive, based in Geneva, announced the completion of a $13 million Series A funding round, led by SC Ventures (the venture capital arm of Standard Chartered Bank) with participation from OneRagtime and others. Hive aims to reshape the centralized model of cloud computing by aggregating unused hard drives and computing power from personal devices to provide a decentralized model.

Hive founder David Gurlé stated that this could be a significant investment, and if successful, investors hope to be part of it. This funding restructuring not only helps companies plan cloud-related expenditures more effectively but also promotes server autonomy, reduces reliance on a few cloud providers, and decreases energy usage. Gurlé believes that a distributed and decentralized cloud model is the "most efficient network infrastructure."