Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

IAGON Raises $3.4M Funding to Build First Data Platform on Cardano

Cryptocurrency Jun 29, 2021 11:31AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
IAGON Raises $3.4M Funding to Build First Data Platform on Cardano

OSLO, NORWAY, 29th June, 2021,IAGON, a startup focused on leveraging Blockchain to build a decentralized Big Data platform, has raised $3.4 million in seed & private funding from a group of reputable crypto-centric investment funds.

The funding rounds were led by LedgerLink Labs and saw participation from Blockchain Israel, AU21 Capital, Kirin Fund, Coinsgroup, Cinchblock, Panony, X21, Genblock, Alphabit, Launchpool, GBV Capital, Trustdao Network, Faculty Group, Llamas, BH Investments, Next Chymia Consulting and many more. A number of angels and advisors also joined the round, notably Darren Camas, formerly advisor to Cardano. Furthermore, Iagon has some other investments pending, which at the moment of writing cannot be disclosed.

With the funding, IAGON will set out to deploy a scalable platform for harnessing the storage and processing power of a decentralized grid of computers, coordinated over a Blockchain network. The platform will be the first decentralized storage network based on Cardano, with an Ethereum deployment already implemented. IAGON enables the storage of all types of files including Big Data repositories and large media files, all the way to smaller files used by the average person. In addition, the IAGON network enables secure computation, allowing resource-intensive tasks such as artificial intelligence and machine learning operations to be processed in the decentralized cloud.

“We’re excited to have received the support of such a wide network of investors in the crypto ecosystem, with a particular focus on Cardano,” said Navjit Dhaliwal, co-founder of IAGON. “With the support of the crypto community, both institutional and grassroots, we are poised to become the decentralized alternative to AWS and all other Big Tech cloud infrastructures.”

"Cloud computing changed the cost structure and model of building systems and networks. IAGON’s vision aligns with the decentralized ethos of creating a distributed market for computational and storage resources,” said Darren Camas, Business Advisor to IAGON.

“The IAGON team also embraces the third way, where decentralization and regulation can be compatible. The systems that will prevail in the end are the ones that embrace openness and decentralization while building in the tools that the end user can select for their particular use case and regulatory requirements, such as medical records and HIPAA compliance in the US, to personal data ownership with GDPR in the EU, or customer data transfer across borders.” About IAGON

IAGON is the decentralized alternative to Big Tech cloud platforms and the will be the first cloud computing and storage platform on Cardano. The platform aims to utilize the decentralized nature of Blockchain technology to build a stronger and faster file sharing and computation network. IAGON received support and validation from the Cardano Foundation, the wider crypto investment community, a grant from Innovation Norway and additional tax incentives from Skattefunn.

Continue reading on DailyCoin

IAGON Raises $3.4M Funding to Build First Data Platform on Cardano
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email