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Object storage platform Filebase has raised $2 million in a seed funding round led by Multicoin Capital. The round also saw participation from Version One Ventures and notable angels like Ryan Selkis.
Filebase claims to be the world’s first object storage platform powered by decentralized networks. It offers a browser-based dashboard and an S3-compatible API to deploy, access and manage data across several decentralized storage networks. It completely abstracts all of the interactions with the underlying networks and has turn-key configurations that help developers to move or replicate data effortlessly. The platform currently supports the Sia Network and the Storj Network and has plans to expand to the Filecoin Network and the Arweave Network by the end of 2021.
According to Filebase, the funds will be used to on-board customers in the pipeline and support growth by hiring more engineering, marketing, and sales talent.
“Our mission is to make decentralized storage accessible and easy to use for everyone. We work with CTOs, CISOs, enterprises, managed service providers, and individual Web3 developers. While all of them have different motivations, they all share the same need for highly-distributed, geo-redundant storage,” said Joshua Noble, CEO and Co-founder of Filebase. “We’ve built a performant access layer to decentralized storage networks, which are among the most distributed and secure networks in the world, with a familiar S3-compatible interface that developers know and generally love.”
Multicoin, a hedge fund that invests in crypto startups, said that decentralized storage networks are non-trivial to use, adding that they often require developers to implement custom software, unique configurations, or special integrations.
“This stands in stark contrast to how the vast majority of developers are familiar with storing their data, which is on Amazon S3,” said Kyle Samani, Managing Partner, Multicoin Capital. “By offering an S3-compatible API, Filebase makes it ridiculously simple for developers to leverage decentralized storage networks without ever having to intersect the networks themselves.”