Cere Network, a developer of a blockchain-based customer relationship management system, said it raised $ 31 million in a funding round led by investment platform Republic and Polygon.
The Berlin-based company said it will use the funding to accelerate the integration of its decentralized data cloud into the Polygon protocol. Completion is expected around the same time as its integration with Polkadot, by the end of the third quarter. According to Cere Network, Republic led the $ 28 million token offer, which included small increases in DAO Maker and Polkastarter. Polygon has invested $ 3 million, which will be used for new hires, growth of the developer network and application development.
“Cere’s decentralized data cloud is the future of blockchain data, taking dataset usage to the next level,” said Sandip Nyllwal, co-founder and chief operating officer of Polygon. “Our investment in Cere and their integration into our protocol means the Polygon ecosystem maintains its market leadership.”
Cere Network is also backed by Arrington XRP Capital, AU21, Fenbushi Capital and Neo Global Capital. Cere has its own blockchain that supports Polkadot with bridges to Ethereum and Polygon, and also allows data transfer.
Cere’s team has grown to over 60 employees worldwide to meet the demand for decentralized cloud launch.