Aleph.im Raises $10M in Strategic Bid to Become Web3’s Decentralized Answer to Amazon Lambda

The updated virtual machine will triple the network’s current node infrastructure and will enable fully decentralized computing and storage solutions

Aleph.im, a cross-blockchain decentralized storage and computing network, today announced the completion of its $10M funding round. The raise was led by Stratos Technologies and is supported by Zeeprime, NOIA Capital, Theia, Bitfwd Capital, Ellipti, Incuba Alpha, RareStone, TRGC, Winkrypto, NZVC, Token Ventures, Seven Capital, Chris McCann, and Owen Simonin, and will propel Aleph.im toward the realization of their ultimate mission to provide fully decentralized computing power and censorship-resistant data storage that eliminates the need for any centralized or controlling entity. January marks the beginning of Aleph.im’s rollout of their first computing resource nodes that will eventually carry the bulk of the decentralized network’s processing power.

“This round of funding is a key piece in executing our broader vision for Aleph.im,” Aleph.im founder Jonathan Schemoul explains, “In addition to the immediate rollout of the network’s compute nodes, this year will also bring the activation of Aleph.im storage nodes, meaning the network will be capable of both decentralized processing and decentralized storage. This will enable web 3 builders, Dapps and protocols to fully decentralize up to the last piece of their development stack.”

Until now, Aleph.im’s virtual machine computing power has been driven by approximately 70 core channel nodes, but the recent funding round will insure that minimum wage payments, rewarded in ALEPH, are made available to over 150 compute node operators, an effort that will result in a truly distributed virtual machine network and ultimately enabling full stack decentralization for key blockchain and dApp developers.

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Throughout 2021, Aleph has become the go-to solution for some of the industry’s leading protocols and DeFi solutions including facilitating Solana’s application indexing, which currently supports Serum, Raydium, Saber, and others. As a technology partner for Ubisoft,  the team has been selected by the game development company to provide a decentralized storage system for the dynamic NFTs on Ubisoft Quartz. Aleph.im has also worked closely with  Polygon, Request Network, and Neon Labs – a recent partner that, through their partnership with Aleph.im, will provide a solution for EVM compatible applications to seamlessly integrate with the Solana ecosystem.

As a part of the strategic round, a number of investors are committing to provide infrastructure to support the network, and as the network continues to expand, Schemoul and his team hope that the recent funding round will incentivize more contributing operators to join the network.

“Aleph.im’s partnerships throughout 2021 speak to the industry-wide demand for decentralized indexing, processing power, and storage solutions,” Investor Rennick Palley, Founding Partner of Stratos Technologies said in a statement, “Until the full stack supporting compute and processing power is decentralized, Web3 will be dependent on a small number of service providers. Aleph.im’s efforts benefit the industry as a whole, and, for this reason, we are proud to be contributing to the larger effort and movement toward truly decentralized full stack architecture.”

Aleph.im’s computing resource node expansion begins immediately and will be executed in a three part process that results in resource nodes being connected to existing core channel nodes.  By mid 2022, all core channel nodes will function as network controllers and all processing and storage nodes should be fully online.

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