According to BlockBeats, Hive, a cloud infrastructure provider in Geneva, Switzerland, announced on March 27 the completion of a $13 million Series A financing. This round of financing was led by SC Ventures, the venture capital arm of Standard Chartered Bank, with participation from OneRagtime and others. Hive aims to reshape the centralized model of cloud computing by integrating unused hard drives and computing power in personal devices to provide a decentralized model. Hive founder David Gurlé said this could be a significant investment and investors would want to be involved if it succeeds. With this reorganization of funds, the transition to decentralization will not only help companies better plan cloud-related spending, but also promote server autonomy, reduce dependence on a few cloud providers, and reduce energy consumption. Gurlé believes that a distributed and decentralized cloud model is "the most efficient network infrastructure."