Web3 Developer Platform Fleek Raises $25 Million Led By Polychain Capital

Fleek, a Web 3 developer platform, has secured $25 million in a Series A round-headed by cryptocurrency-focused startup capital company Polychain Capital.

According to a company announcement, Digital Currency Group, North Island Ventures, and Coinbase Ventures were among the investors that participated in the round.

Fleek’s business strategy has undergone multiple revisions since its inception in 2018. It changed its name from Terminal to Fleek in 2020, and it now provides customers with an easy method to design, launch and host websites and apps using the filesharing protocol InterPlanetary File System (IPFS).

Fleek Network is a lightning fast decentralized content and application delivery network that will supercharge the delivery of all Web3 content and apps. As a trustless, censorship-resistant, open-source CDN, anyone will have the ability to contribute bandwidth to the network by running a cache node.

Fleek Network is origin agnostic, meaning it can accelerate content from any underlying storage protocol or provider, and the usage of the network will be fully transparent and publicly available for the world to leverage. All content will be IPLD-based and content addressable, creating a public record of the world’s bandwidth and content being served, much like how smart contracts bring radical transparency to financial transactions.

It isn’t just for Web3. It’s origin agnostic, meaning that Web2 can also enjoy the benefits of Fleek Network (both cost and performance benefits alone should make it quite attractive compared to existing CDN’s).

The platform now provides hosting and storage services for a variety of Web3 protocols. These services are presently provided by Web2 providers such as AWS and Cloudflare.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.