Cudo Ventures, the provider of cloud computing and monetisation software, today announced that Outlier Ventures, a venture platform focused on growth investing, has become the lead advisor and an investor to support the company’s further growth and expansion.
Cudo is a player in the rapidly growing and developing market for the next generation of cloud computing. The company is focused on a new, more equitable way of cloud computing by providing a technology platform that links hardware owners with spare capacity, to organisations who require spare compute power in order to complete workloads such as Video Rendering, Machine Learning Deployment and Seismic Imaging. Cudo Compute’s solution provides customers with a number of benefits resulting in significant cost savings, whilst providing a new revenue stream for hardware owners including data centres, PC gamers, laptop owners and service providers seeking higher capacity.
Since its foundation in 2017, Cudo Ventures, the owner of the Cudo Compute, Cudo Gamer and Cudo Donate brands, has built a strong foothold in the global market by attracting over 75,000 hardware providers within a beta programme. The company is now entering the cloud computing market with lead investment from Outlier Ventures. Built on blockchain technology and using a similar sharing economy model as Uber, Cudo Compute links owners of hardware with buyers of cloud computing services.
Matt Hawkins, CEO at Cudo Ventures said, “We are very excited to be working with Outlier Ventures, integrating into their Convergence Stack ecosystem and working together in the large and rapidly growing market for a new generation of cloud computing. We see many opportunities developing alongside the rise of the machine learning and AI, IoT and medical research. The opportunity for Cudo Compute lies not only in providing our clients with significant enhanced Cloud Compute power, but also in demonstrating how our solution can provide a real-time revenue stream for hardware owners, anyone from a PC Gamer through to a Data Centre. Going forward Distributed Cloud Computing will be used to reduce the cost to organisations for Cloud Computing workloads and storage. On the environmental side, Cudo Compute negates the need to build new Data Centres by harnessing the mass compute power that consumers and businesses already own, that sits idle up to 80% of the time.”
Matt Law, a Managing Director at Outlier Ventures commented, “We are delighted to partner with the Cudo Ventures management to accelerate the company’s growth and development. Cudo Ventures has developed innovative and differentiated technology to serve both owners of hardware, and customers needing hardware and is led by a creative and entrepreneurial management team. We believe that there is significant scope to grow the business on a global basis as more and more corporates understand the value of Distributed Cloud Computing.”
Outlier Ventures is an investment platform partnering with companies building Web 3.0 with decentralised technologies. They advise and invest in Convergence-related start-ups. Convergence sees blockchains and other decentralisation tools like smart contracts, oracles, and tokens, as new decentralised infrastructure enabling technologies such as AI, IoT, 3D Printing, Robotics and Mixed Reality to converge.