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When large cloud providers have excess compute capacity, they discount it through programs like AWS and Azure’s Spot Instances. Whenever a server goes down, it is ultimately not making the company money. nodeshift The goal is to take this concept further and expand it beyond big clouds – and with stronger guarantees – by providing a single API for access to additional compute, storage and graphics accelerators from independent data center operators and a low-cost decentralized web. Through connections to services such as Sky and Filecoin.
NodeShift today announced it has raised a $3.2 million seed funding round led by Inovo.vc, focused on startups based in Central and Eastern Europe, with participation from Notion Capital, 10x Founders, and Kestrel0x1. Epic Games also joined as an angel investor.
The company was founded by Andrey Surkov Mihai Markuta, They first met when they were interns at Cisco in 2016. While Surkov stayed at Cisco (and was also at Crypto for a time), Markusa moved out of London to work at Microsoft Azure, Twitter, and Epic Games for the next few years. , However, they remained friends, and the project began when he visited Turkey with another friend, where he was having a hair transplant. While in the recovery room, Surkov shared his idea for a company that would make this excess data center capacity available to developers. How’s that for a founding story?
“A lot of data centers have excess capacity – about 10 to 20% excess capacity right there – and there are hundreds of data centers like this,” Marcusa explained. “The price is very, very cheap. If you compare it to traditional cloud providers, we’re talking about prices that are 70 to 80% cheaper.
NodeShift promises that it can save its users more than 70% in compute costs compared to larger cloud providers. This includes access to Nvidia accelerators like the ever-in-demand A100 GPU at significant discounts. And while larger cloud vendors may not offer it, Web3 services also provide access to high-end consumer-grade accelerators like the RTX 4090 gaming GPU, which may be slower but also far more affordable.
Because of his experience with decentralized systems in networking and crypto at Cisco, Surkov had become interested in why there was so much friction in using decentralized computers. “I wanted to understand how I could host my dApps completely decentralized and then I realized there was a huge amount of friction. Hosting completely decentralized storage is kind of one thing. It’s another thing to do the calculations – and then you add it all together and remove the friction of the token. You need to acquire tokens for each crypto project to finance the infrastructure. “That’s a huge amount of friction,” Surkov said.
In fact, I will admit that it is hard to convince a CFO to allow a developer team to buy random cryptocurrencies, even if it is just to experiment with these services. So even if the prices are great, it becomes cumbersome to use these services in a business context.
It is worth noting that the founders have very clear ideas about using Web3 and blockchain technologies. “We personally feel like Web3 and blockchain a lot of times get relegated to projects where you don’t need them just for the sake of it,” Marcusa said.
In addition to these decentralized projects, Nodeshift has also struck deals with independent data center operators. The team emphasized that developers have the right to choose where their projects are located (down to the data center) and who these data centers are certified by. Uptime Institute And they have all the standard SOC 2 and ISO 27000 certifications that an enterprise user would expect. When using those data centers, the company is also able to offer those customers an SLA – something that would be difficult (or rather expensive) to do in a Web3 context.
However, this combination of traditional infrastructure and Web3 allows for projects to grow capacity as needed and at a lower cost, essentially turning them into a spot instance on NodeShift. The company says that in terms of data centers, it currently has access to approximately 400,000 CPUs and 28 million terabytes of storage.
Soon, NodeShift will launch a Kubernetes platform that will sit on top of all of this, making it easier to migrate workloads as needed.
On top of this, the team plans to use the funding to expand their supply as well as go-to-market efforts.
Some of the company’s competitors also include Germany-based companies. impossible cloudsHowever that team only focuses on storage, and saladWhich focuses heavily on AI/ML workloads on consumer-grade hardware.
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