/Zero-knowledge file service Internxt secures over €250,000 in seed funding

Zero-knowledge file service Internxt secures over €250,000 in seed funding

Internxt, a zero-knowledge file storage service, today announced it has successfully closed a €206,000 seed equity investment round at a €2,000,000 valuation. Investors included: SociosInversores, Delwik Group, ESADE BAN, and ex-directives from companies as reputable as Telefonica and Vodafone

Adopting a decentralized infrastructure, makes X Cloud more secure, private and eco-friendly than current centralized systems.

In addition, the company reported adding €50,000 of debt-funding from Caixa Popular. Internxt now maintains an additional €259,000 of available capital. In order to continue on a growth path, Internxt expects to continue raising funds throughout the upcoming years.

These supplementary funds are anticipated to be spent to help Internxt more effectively improve, market and sell its products. The round was regulated by the CNMV, an entity that supervises the correct functioning of company stock.

Closing the seed round is expected to have a very positive impact across Internxt’s entire ecosystem. The company expects to increase its number of employees (development, sales) to accelerate the development of its zero-knowledge file storage service, X Cloud. The team is also interested in creating other new disruptive products.

“We are really excited about having closed this seed round and expect to take the company to a way higher level than that we’d have been able to take it without this extra cash injection.”
– The Internxt team

Token

Internxt’s token INXT is used as a means of payment to hosts who contribute to the distributed X Core network by storing and sharing encrypted shards of X Cloud users files.

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