Our investment in Hive: or how P2P cloud is disrupting the data storage market
We are thrilled to announce our investment in Hive 🎉🐝, a peer-to-peer cloud start-up leveraging the idle capacity of computers.
We are co-leading a €7m Seed round with our friends at Global Ventures, alongside a strong roster of angels, including Tom Glocer (former CEO of Thomson Reuters), Moritz Thiele (Founder and CEO of Finanzcheck.de), Kumar Yamani (founder and CEO of OSI Digital).
Hive was founded by David Gurle — the renowned French serial entrepreneur and engineer (ex-CEO of Symphony), and a pioneer of IP communications and distributed computing.
Hive is developing a new cloud that takes advantage of unused computer capacity. The goal is to offer data storage and computing services through the construction of a network of users who share and rent their available resources.
Founded in 2021, Hive presents itself as the first player that will democratise the peer-to-peer cloud through its ease of use and intends to offer a solid complement to existing B2C and B2B cloud solutions.
Hive enables users to contribute their computer’s resources to the network, in exchange for similar capacity from the network and/or monetary compensation. This creates a virtual distributed cloud by pooling all available computational and storage resources, allocating them based upon demand and rewarding users providing the resources.
Hive will give users — consumers and corporations — total control over their data in a secure, private environment. Hive will make storing and sharing data more accessible and affordable for everyone, and significantly reduce computing & storage’s energy usage and carbon footprint by providing computing & storage resources closer to the users.
The company will offer:
- A peer-to-peer cloud
- A secure storage and computing service offering
- An opportunity for users to rent their computing capacity
- Co-located storage and processing
With this new model, Hive is now positioned on a high-potential market since the data storage market will represent $100Bn by 2026 and the computing market will represent $1,250Bn by 2028.
David Gurle, Founder of Hive, said:
“I am delighted to announce Hive’s launch and our seed round, and thank our diverse group of stellar international investors for their support in this new venture. At Hive, we are using P2P technology to create how the cloud should have been originally built. Hive will disrupt the cloud market dominated by centralised cloud providers. Hive will create a worldwide distributed platform allowing unprecedented level of scale, capacity and performance while respecting our growing and essential needs as we enter deep in the next phase of the Internet: Web 3.0 .
As our Founder and CEO Stephanie Hospital comments:
“We strongly believe in the democratisation of Hive’s decentralised P2P technology creating a safer, greener and cheaper cloud service. David Gurle brings to the table his exceptional vision and experience to allow Hive to achieve its full potential and become the first company to decentralise cloud services at scale leveraging unexploited storage and computational capacities.”
Welcome, team Hive, to the #OneRagtime family. Super glad to have you aboard!
About OneRagtime
OneRagtime is a VC-as-a-platform firm founded by Stéphanie Hospital — digitising the investment process for a community of +250 investors. We back consumer enabled early-stage start-ups in Europe and leverage our community to support them.
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