What started out as a blockchain-powered, decentralized Dropbox has evolved into an enterprise storage system with real venture capital backing.
Atlanta-based Storj Labs announced today it has raised $3m in seed funding as part of a round that saw contributions from individual investors employed by VC firms including Google Ventures, Qualcomm Ventures and Techstars, according to the company.
The funding marks the first time that Storj Labs has raised outside capital, following a blockchain token sale in 2014.
The funding is also notable for a startup that counts itself among an early set of firms working in the so-called ‘crypto 2.0’ space, the early movement aimed at applying blockchain technology to non-financial applications and use cases.
In this light, CEO Shawn Wilkinson said the funding marks the end of a long run of experimentation that has seen the company, now 13 employees strong, iterate a fledgling idea into one that can now leverage experimental technology to secure corporate partnerships.
Wilkinson told CoinDesk:
“We went from: ‘Cryptocurrency is cool,’ to ‘Hey, it’s useful, but it’s a lot better if we abstract parts of our service.’ Now, customers just buy space through our network and we help them do that.”
Read more ... source: CoinDesk
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