{"id":82254,"date":"2023-07-27T12:40:06","date_gmt":"2023-07-27T09:40:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82254"},"modified":"2025-09-12T03:54:39","modified_gmt":"2025-09-12T00:54:39","slug":"ethstorage-raises-7-million-in-seed-funding-at-a-100-million-valuation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethstorage-raises-7-million-in-seed-funding-at-a-100-million-valuation\/","title":{"rendered":"EthStorage raises $7 million in seed funding at a $100 million valuation"},"content":{"rendered":"<p>The Ethereum Layer-2 storage startup EthStorage, focused on scalability, has raised $7 million in seed funding. The round valued the company at $100 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-07-27-v-11.47.22.webp\" alt=\"Snimok-ekrana-2023-07-27-v-11.47.22\" class=\"wp-image-212344\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/twitter.com\/EthStorage\/status\/1684385120755544065\">Twitter<\/a>.<\/figcaption><\/figure>\n<p>The funding round was led by the crypto-focused venture fund dao5 with participation from SevenX Ventures, Foresight Ventures, Sky9 Capital, Gate Ventures and Galxe. The investments were structured as a <a href=\"https:\/\/www.investopedia.com\/terms\/s\/simple-agreement-future-tokens-saft.asp\">simple agreement for future tokens<\/a>.<\/p>\n<p>EthStorage was founded in 2022 by Qi Zhou, who is also the founder of the infrastructure blockchain startup QuarkChain.<\/p>\n<p>The project is currently under development. EthStorage is a <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">layer-2<\/a> data store built on top of Ethereum. Its goal is to achieve petabyte-scale capacity with a thousandfold cost reduction.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;By periodically posting proofs of storage from EthStorage to the mainnet, the platform aims to capitalize on Ethereum&#8217;s security features, significantly increasing storage capacity at substantially reduced costs,&#8221; according to a press release by Gate Ventures.<\/p>\n<\/blockquote>\n<p>According to the fund&#8217;s representatives, the project offers capabilities not currently available from peers such as Arweave and Filecoin.<\/p>\n<p>In July, the infrastructure company Flashbots <a href=\"https:\/\/forklog.com\/en\/news\/flashbots-becomes-a-unicorn-after-a-60-million-round\">raised $60 million<\/a> at a $1 billion valuation. The firm plans to use the funds to build the SUAVE platform, offering &#8220;faster and more confidential&#8221; blockchain transactions.<\/p>\n<p>Earlier, developers of the <span data-descr=\"Ethereum Virtual Machine \u2014 the Ethereum virtual machine\" class=\"old_tooltip\">EVM<\/span>-compatible network Manta Network closed a funding round of <a href=\"https:\/\/forklog.com\/en\/news\/manta-network-raises-25-million-to-launch-zk-network\">$25 million<\/a> to launch applications built on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-zero-knowledge-proof\">zero-knowledge proofs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Layer-2 Ethereum storage startup EthStorage raised $7 million in seed funding, valuing the company at $100 million.<\/p>\n","protected":false},"author":1,"featured_media":82255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1223,1133],"class_list":["post-82254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-startups","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=82254"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82254\/revisions"}],"predecessor-version":[{"id":82256,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82254\/revisions\/82256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82255"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}