OII alumnus’s startup enterprise secures $3.2m to fund public launch of cloud infrastructure business
A startup co-founded by OII alumnus Mihai Marcuta has secured funding of over $3m to publicly launch NodeShift, a product they claim can make it easier for developers to access affordable and secure web3 cloud infrastructure.
NodeShift’s purpose is to enable businesses to run compute, graphics processing unit (GPU) and storage workloads in the decentralised cloud through one user interface, in doing this they are able to compete with existing cloud service providers by reducing typical costs by up to 80%.
Mihai recently studied an MSc in Social Science of the Internet at OII, graduating in 2021, whilst working as an application development specialist at Microsoft. He went on to co-found NodeShift.
He commented on what the funding means for NodeShift: “Myself and my co-founder Andrey Surkov are over the moon to have achieved this funding which will enable us to bring affordable, decentralised cloud services to more businesses, offering them a better way to build and host secure applications.”
The $3.2m has been raised from Inovo.vc, Notion Capital, 10X Founders, and Kestrel0x1 executives and will enable the co-founders to launch their product publicly to developers at large. The company was selected by Intel out of over 300 funded deeptech startups for its Ignite programme, as part of the process Intel Ignite has assisted NodeShift in its launch.
NodeShift has already been used in its Alpha stage by publicly traded companies and Seed to Series B startups. It has differentiated its offering by using a fault-tolerant design that increases reliability and deployment speed.
