Blockchain Object Storage Company Filebase Raises $2M, Aims to Incorporate Filecoin and Arweave Networks
Filebase, a blockchain-based object storage company built on top of the Sia network has revealed the business has closed an initial seed round gathering $2 million from investors. Interest in decentralized storage networks has blossomed in recent months and Filebase expects the growth of global data to surpass 175 Zettabytes by 2025. The project is currently working with three distributed storage projects and plans to expand to Arweave and Filecoin by the end of 2021.
Filebase Raises $2 Million
In the future, blockchain advocates believe that distributed ledger networks will help bolster decentralized storage rather than leveraging centralized clouds and API services used today. In 2021, there are a number of blockchain projects dedicated to data-storage solutions and a company called Filebase utilizes a number of the most-used decentralized storage systems.
Essentially, Filebase is a multi-tenant, S3-compatible API service that is built with the Sia network. However, Filebase decided to branch out and the project also supports Skynet and Storj networks as well. The project further announced this month that the team has raised $2 million in a seed round from well known blockchain investors.
The round for $2 million in funding was led by Kyle Samani of Multicoin Capital, Boris Wertz of Version One Ventures, and the founder of Messari.io Ryan Selkis. Filebase details that since the inception of the project in early 2018, the protocol has seen three network integrations and has processed 150 million objects.