Community Cloud SIGNED

Project "Community Cloud" data sheet

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 Partnership

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 Project objective

All companies using cloud services look for excellent performances, competitive prices, and the highest standards of privacy. Yet, no cloud provider is currently able to provide all these three benefit together. This pain point arises because the current standard of centralized cloud (i.e., one proprietary web farm serving millions of users) has huge operating costs and recurring weaknesses concerning data security. Cubbit develops a technology able to disrupt the global cloud industry by replacing the root cause of its problems, i.e., centralized server farms, with a distributed data center based on a peer-to-peer network free from infrastructural costs, highly scalable, and secure by design. Cubbit turns the storage, CPU, and bandwidth provided by its users - who access the first ever forever-free end-to-end encrypted cloud storage service - into professional web services sold to SMEs customers - who finally get a secure, efficient, and inexpensive cloud. While around 70% of the revenues made by traditional cloud providers are burnt into direct operating costs, Cubbit is the first provider that turns the costs into a revenue stream as it gains a margin on every domestic server activated. Cubbit is also environmentally sustainable, using up to 10 times less energy than centralized cloud. For every TB you store on Cubbit, you save the gross equivalent to 100 kgCO2/year. Founded in July 2016 and based in Bologna, Italy, the company is the first Italian startup ever invested by Techstars & Barclays’ accelerator in Tel Aviv, Israel, a world-class program focused on cybersecurity. It is now backed by 2 VC funds and private investors. In March 2019, Cubbit run a successful product-crowdfunding that hit 821% overfunding and entered the top 1% of most funded Kickstarter campaigns of all times.