Fleek network rised $25M

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Key points: 

• Fleek has raised $25 million in Series A funding led by cryptocurrency-focused venture capital firm Polychain Capital.
• Other investors in the round include Protocol Labs, Arweave, Coinbase Ventures, Digital Currency Group, North Island Ventures, Distributed Global, The LAO, and Argonautic Ventures.
• Fleek is a decentralized content and application delivery network, which will launch in the spring or summer of 2023.
• It tackles the main problems of other decentralized storage and data protocols, such as Filecoin and Arweave - they cannot query files, data, or content in the network stored on them.

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Web-3 developer platform Fleek has raised $25 million in Series A funding led by cryptocurrency-focused venture capital firm Polychain Capital.

The funding will accelerate the development and deployment of a decentralized content and application delivery network called Fleek Network, which is due to launch 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" said Harrison Hines, Fleek co-founder, and CEO.

Hines pointed out that while there are several decentralized storage and data protocols, such as Filecoin and Arweave, these protocols have a common problem: they cannot query files, data, or content in the network stored on them.

On the consumer side, developers or projects that need a content distribution network can provide content to the Fleek network. Fleek accelerates this content using a decentralized network of nodes. Consumers are paying upfront for bandwidth in native FLK tokens, Hines said.

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