Decentralized storage and compute business Storj is being acquired by Inveniam Capital Partners, a data infrastructure company for private markets.
Fintech Inveniam’s software enables real-time pricing of private market assets to help trading the assets in real estate, private equity, private credit, and infrastructure private markets. It’s a blockchain tech business which claims to have pioneered tokenization tech including blockchain-anchored data validation, quantum proofing using lattice blocks, and proof-of-state, proof-of-process, and proof-of-origin technologies. Storj’s Web3 decentralized storage technology stores object data fragments on globally distributed nodes owned by independent operators who are paid in STORJ token cryptocurrency, with storage I/O transactions recorded using blockchain.
Storj has raised $35.4 million since it was started up in 2014. It promoted its CRO, Colby Winegar, to CEO in October last year, with the then-CEO, Ben Golub, becoming executive chairman.
Inveniam Chairman and CEO Patrick O’Meara said: “Storj’s unique technology is a critical enabler of Inveniam’s mission and serves our growing customer base with a network that sets the standard for secure, high-performance decentralized storage and compute.”
“We’re particularly excited to integrate the STORJ token into our ecosystem, driving greater utility and alignment across our platforms. Together, we’re shaping the future of decentralized marketplaces and unlocking new growth opportunities for both companies.”
Winegar stated: “This partnership provides the resources and strategic alignment to accelerate our roadmap, expand our global reach, and scale with purpose while staying true to the core values that define Storj.”
Golub added his view: “This acquisition reinforces that distributed cloud infrastructure is the foundation for how enterprises will build and scale in the years ahead.” That’s as maybe.
Storj will remain a legal entity, operating as a subsidiary of Inveniam, led by Winegar. All existing customer, supplier, and community relationships will remain intact across Storj’s storage, compute, data access and data compression offerings, and all Storj employees are expected to remain with the company. Ben Golub will join Inveniam’s board.
The acquisition price has not been revealed.
The Storj Token (STORJ) is an ERC-20 utility token on the Ethereum blockchain that powers the Storj decentralized cloud storage and compute platform ecosystem.
A private market is a place where assets are bought and sold. They are not, like stocks and shares, listed, bought, and sold on public exchanges such as the NYSE or Nasdaq. These assets are not available to the general public, and the markets are not regulated like public exchanges. Blockchain technology validates their existence and certifies trades that have taken place.
