Fleek, a Web3 development platform, has raised $25 Million in Series A funding from Polychain Capital. The company partnered exclusively to TechCrunch
The round also included additional investors such as Coinbase Ventures. Digital Currency Group. Protocol Labs. Arweave. North Island Ventures. Distributed Global. Argonautic Ventures.
Startup aims to create an interface layer and protocol layer “to create underlying layers of the web.”[3]”Services” such as storage, billing, and hosting that anyone can access according their needs website.
TechCrunch spoke to Harrison Haynes, Fleek cofounder and founder. He said that the primary focus of Fleek is the content delivery market. “This is what Fleek is doing today and where we’re seeing significant packet loss in the Web 3 infrastructure. It’s a problem with all Web 3 protocols.”
Amazon Web Services is the dominant player in the content delivery (CDM), market.AWS) And the Cloud FlairHaynes mentioned a few. Haynes stated that Fleek was originally a Web 2.0 infrastructure provider like Cloudflare or AWS. However, Fleek plans to launch its Web 3 network in 2023 and provide Web 3 technologies, such as decentralization, while maintaining Web 2.0-like performance.
“At its core, our vision for the Fleek Network is a decentralized edge network where anyone can run nodes and provide resources to the network,” Heinz said. “The Internet is moving to the edge now. Most of the biggest platforms are bound to the edge.”
Hines defines edge to be the removal of content from a single central server location in order to move loose couplings between different infrastructure and cloud services closer towards the end user.
Hines pointed out that Fleek hosts approximately 50,000 applications today, primarily within Ethereum’s ecosystem but also with other protocols. Fleek products are based on cryptographic protocols such e.g. Filecoin, Internet Computer (IPFS), and Textile.
Heinz explained that the new capital will be used to expand and enhance Flick’s platform and network. He also said that it will bring in additional talent and grow its community.
Haynes stated that the startup will initially focus on the web3 ecosystem, but will eventually expand to Web 2.0 businesses like video game platforms or streaming services. This is often one of the largest costs. “In this market, where large companies are looking to cut costs, we believe Fleek Network could be an attractive solution and an easier leap.”
Fleek’s pricing is flexible, so metrics can change as they grow,” Heinz stated. However, Fleek charges less than Cloudflare which charges between 5 and 15 cents per gigabyte. This makes Fleek one of the most affordable. Five to fifteen times as affordable.
“We’ve been trying for this for years, and there’s been a lot more progress in this area.” [the crypto ecosystem for]Haynes stated that “the scalability and the way we built these networks gave confidence in our ability to do this” and was comparable to existing Web 2 systems in terms of size, throughput, and latency. It was perfect timing.
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