Fleek, a leading Web3 development platform, has secured an investment of $25 million from Polychain Capital in Series A funding. Fleek is a Web3 developer platform that allows for repository and web hosting on various Web3 protocols. The original Fleek platform based most of its infrastructure on prominent Web2 infrastructure providers like Cloudflare and AWS, which hindered the complete decentralization of Web3 hosting and content delivery. Scheduled to launch in 2023, Fleek Network will facilitate the delivery of fully decentralized content and applications to Web3 users while preserving the same level of performance as Web2.
The funding will aid in expediting the progress and rollout of Fleek Network, a decentralized platform for content and application providers, scheduled to be available by the spring or summer of 2023.
According to Fleek co-founder and CEO Harrison Hines, “Present Web3 infrastructure stacks have some elements missing related to efficient content transmission. Fleek Network seeks to bridge the gap through its Web3 infrastructure stack, providing trustless content delivery and acceleration services.”
Hines pointed out that though there are many decentralized storage and data protocols like Filecoin and Arweave, they all struggle with the same issue of sluggishness when searching for files, data, and content on the networks they are stored on.
Consumers who need content-delivery services can utilize the Fleek Network to accelerate their content, paying for the bandwidth with FLK tokens in advance.
Other notable investors participating in the round include Protocol Labs, Arweave, Digital Currency Group, Coinbase Ventures, North Island Ventures, The LAO, Distributed Global, and Argonautic Ventures.