Place/Date: San Francisco, CA - March 29th, 2021 at 3:00 pm UTC · 3 min read
Contact: Cere Network, Source: Cere Network
Cere Network (Cere), the first Decentralized Data Cloud (DDC) platform, today announced a $5 million private round and the launch of their platform to developers. Republic Labs, the investment arm of the crowdsourced funding platform, Republic, will be the first blockchain company investment for the firm. Republic has previously held public investment opportunities in SpaceX, Carta, Robinhood, and Relativity Space. The $5 million round is being led by Republic Labs, with other participants including Woodstock Fund, JRR Capital, Ledger Prime, G1 Ventures, ZB exchange, and Gate.io exchange. Cere Network previously raised $5 million from Binance Labs and Arrington XRP Capital, amongst others, bringing their total raised to $10 million.
Fred Jin, CEO of Cere, said:
“Republic has been empowering retail investors for years, while spinning off of AngelList. They’ve given people the opportunity to get in early on companies that traditionally have raised money from the Silicon Valley elite. We are honored that they have chosen us as their first blockchain token offering, while leading our private round.”
Less than 3% of startups pass through Republic’s due diligence and investment committee, with investors able to participate with a minimum of $10. The Cere DDC platform launches to developers today, which allows thousands of data queries to be hosted on-chain. The platform offers a more secure first-party data foundation in the cloud by using blockchain identity and data encryption to onboard and segment individual consumer data. This data is then automated into highly customizable and interoperable virtual datasets, directly accessible in near real-time by all business units, partners/vendors, and machine-learning processes. The CERE token will be used to power its Decentralized Data Cloud and fuel Cere’s Open Data Marketplace that allows for trustless data-sharing amongst businesses and external data specialists, as well as staking and governance. The public sale of the CERE token will be held on Republic, the first token sale on the platform.
Boris Revsin, Managing Director of Republic Labs, said:
“We’ve been following Cere Network for some time and have been impressed with the team and the market fit – and need – for a decentralized data cloud. We’re very excited to host Cere Network’s token sale on Republic, which will ensure a decentralized network and faster adoption in the enterprise space of blockchain technology. Their DDC improves upon Snowflake using blockchain identity and data encryption to onboard and segment individual consumer data.”
Cere Network is the first Decentralized Data Cloud (DDC) platform in alignment with Polkadot, optimized for service data integration and data collaboration. While most enterprise blockchains are simply distributed ledgers, the Cere DDC platform is built from the ground up to power the new generation of first-party customer data ecosystems. Harnessing similar goals to cloud platforms like Snowflake, Cere’s DDC platform is delivering on a new decentralized level of data privacy, data agility, and data interoperability.
Cere Network is founded by former executives from Amazon, Twitch, D-Link, and Bebo. Cere is backed by Binance Labs, Arrington XRP Capital, Fenbushi Capital, and Neo Global Capital, amongst others. The company is headquartered in San Francisco, with offices in New York and Berlin.