Fleek, a development platform for Web3, announced Thursday that it has raised $25 million in new funding led by Polychain Capital to build a decentralized content delivery and hosting network for Web3 developers.

Additional investors joining the Series A round included Protocol Labs, Arweave, Coinbase Ventures, Digital Currency Group, North Island Ventures, Distributed Global, The LAO, and Argonautic Ventures.

Founded in 2018, Fleek is a development platform for blockchain-based decentralized applications on Web3 protocols, also known as decentralized web. The current platform was built to deliver your content primarily from Web2 content networks like Amazon Web Services and Cloudflare, which are services controlled by corporations.

By storing Web3 and crypto project data for dapps, non-fungible tokens in centralized services, Web3 proponents argue that they leave their data vulnerable to Web2’s centralized development, hosting, and content delivery rules. The goal of a fully decentralized content delivery network using Web3 protocols helps untangle crypto projects from centralized points of failure.

Scheduled to launch in 2023, the Fleek Network will provide decentralized content and application delivery for Web3 while delivering the same high performance expected of content delivery and hosting services like AWS.

“Fleek provides a critical missing piece to a legitimate decentralized Web3 experience,” said Harrison Hines, co-founder and CEO of Fleek. “With the Fleek Network, we will be empowering developers and organizations with an easy and seamless mechanism for hosting and delivering Web3 content that will help deliver on the promise of creating a truly decentralized Internet.”

Multiple big names in decentralized storage and content delivery have come together to support the Fleek Network, including Interplanetary File System, Filecoin, and Arweave. Networks like IPFS and Filecoin act as peer-to-peer networks to store and share data in a distributed file system, similar to AWS but decentralized.

“The Fleek team has a unique skill set to introduce a protocol-agnostic decentralized hosting and content delivery layer for Web3,” said Olaf Carlson-Wee, founder and CEO of Polychain Capital.

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