PANews reported on July 27 that EthStorage, a two-layer network data storage solution project for Ethereum, completed a seed round of financing of US$7 million at a valuation of US$100 million. The round was led by Dao5, with SevenX Ventures, Foresight Ventures, DragonRoark, Cloud Nine Capital, Avant Blockchain Capital, Future Money Group, Gate Ventures, Vitalbridge, Galxe, GeekCartel, Rebase D. Ventures, W3.Hitchhiker and other angel investors Wait to vote. All financing funds will be used to expand the team, support research, develop products, enhance the brand, and attract more ecosystem partners to use EthStorage.
It is reported that EthStorage is a second-tier solution that provides programmable dynamic data storage based on Ethereum data availability technology. The team has received funding from the Ethereum Foundation Ecosystem Support Program (ESP) twice for data availability. A study of sampling and a proof study of dynamic data storage in 2-tier networks. At the same time, it also won the first place in the Super Demo event of the Community Ethereum Development Conference (EDCON) held in Montenegro in 2023.