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Akave, an L2 Storage Chain Powering On-Chain Data Lakes, Raises $3.45M Pre-Seed from Leading Investors

Akave

November 11, 2024


Akave, a decentralized storage solution built on Filecoin’s Layer 2 technology, has secured $3.45 million in a pre-seed funding round. Led by Protocol Labs, Blockchange.Ventures, Lightshift, and Blockchain Builders Fund, the funding will enable Akave to accelerate the creation of decentralized data lakes that empower enterprises, AI companies, and decentralized physical infrastructure networks (DePINs) to manage large datasets beyond traditional cloud systems.


The platform addresses key challenges faced by centralized data storage systems, such as privacy concerns, limited flexibility, and reliance on third-party control. By utilizing blockchain technology and smart contracts, Akave provides a transparent and secure solution for managing and monetizing data. This approach eliminates intermediaries, giving users full ownership and control over their data. With its Yucca Testnet, Akave offers developers and early testers a chance to explore its decentralized data management capabilities, helping integrate on-chain solutions into a variety of projects.


In addition to supporting individuals, Akave aims to help enterprise clients take advantage of the benefits of decentralized cloud solutions. The Yucca Testnet serves as a proving ground for Akave’s multi-tier storage architecture, allowing users to upload, store, and monetize data in a decentralized environment. Developers interested in Akave’s solutions can gain access through events such as the ETHGlobal Bangkok Hackathon, taking place in November 2024. Akave also offers customized solutions for enterprise customers looking to onboard their data into a decentralized infrastructure.

 

About Akave

Akave is a Filecoin Layer 2 decentralized data management network built to support next-generation data-driven applications and marketplaces. It enables secure, programmable storage, access, and monetization of data on the blockchain. The platform combines high-performance storage with Web3-native features, setting new standards for data ownership and control.


X: @akavenetwork


About Investors


Protocol Labs

Protocol Labs is a research, development, and deployment organization focused on creating decentralized technologies. The firm is best known for its work on Filecoin, a decentralized storage network. Protocol Labs fosters innovation in the blockchain and decentralized web space.


Location: San Francisco, United States


Blockchange Ventures

Blockchange Ventures is a venture capital firm investing in early-stage blockchain projects. It focuses on providing the necessary tools and infrastructure to help blockchain companies succeed.


Location: New York


Lightshift

Lightshift is a venture firm supporting the development of decentralized solutions and Web3 technologies. Its portfolio spans a range of industries, focusing on innovative projects that drive blockchain adoption.


Location: Lisbon, Portugal

 

Blockchain Builders Fund

Blockchain Builders Fund invests in early-stage blockchain projects, helping to build the infrastructure needed for the decentralized web. The firm supports a diverse range of projects across various sectors of the blockchain ecosystem.


Location: Palo Alto, CA

 

 A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.


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