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Web 3 Content Delivery Network Fleek Raises $25M

Crypto-focused venture capital firm Polychain Capital led the round.

Web 3 Content Delivery Network Fleek Raises $25M
01.12.2022 15:16
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Web 3 developer platform Fleek has raised $25 million in a Series A round led by crypto-focused venture capital firm Polychain Capital.

The funding will accelerate the development and launch of a decentralized content and application delivery network called Fleek Network, which will be launching in the spring or summer of 2023.

“Currently, there is a missing piece in the Web3 infrastructure stack: trustless content delivery and acceleration. This is the gap Fleek Network fills,” Fleek co-founder and CEO Harrison Hines told CoinDesk in an email.

Hines noted that while there are several decentralized storage and data protocols such as Filecoin and Arweave, those protocols share a common problem in that they can’t query the files, data or content from the networks stored on them.

From the consumer side, developers or projects needing a content delivery network can provide content to the Fleek Network. Fleek accelerates that content using a decentralized network of nodes. Consumers prepay for the bandwidth in the native FLK tokens, said Hines.

Other investors in the round included Protocol Labs, Arweave, Coinbase Ventures, Digital Currency Group, North Island Ventures, Distributed Global, The LAO and Argonautic Ventures.

Digital Currency Group is the parent company of CoinDesk.

Read more: Crypto Exchange Uniswap Labs Raises $165M in Polychain Capital-Led Round

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